Welcome Guest to Coatings World    Login || Register
Last Updated Tuesday, October 13 2015

nCoat to acquire Metallic Ceramic Coatings

By Tim Wright

Published June 27, 2007
nCoat, Inc. has signed an agreement to acquire Metallic Ceramic Coatings, Inc. (MCCI), which operates in the marketplace under the brand of Jet-Hot Coatings.

"The acquisition of MCCI/ Jet-Hot, combined with High Performance Coatings, Inc. (HPC), our first acquisition in 2005, doubles our size and creates a highly competitive force in automotive, trucking and aerospace coatings," said Paul Clayson, CEO of nCoat. "We can now add nano-coatings to the product mix of MCCI/Jet-Hot and cross sell the best products of both companies. With the 25 years of market experience of HPC and the 27 years of market experience of Jet-Hot, nCoat now has a depth of engineering and technical expertise not previously known in this market."

nCoat signed a stock purchase agreement to buy all capital stock in MCCI for $5 million cash and $1 million in nCoat common stock, or roughly one times projected 2007 revenue. Under the agreement, the acquisition is scheduled to close on June 29, 2007.

MCCI/Jet-Hot, headquartered in Philadelphia, PA, develops, produces and applies a variety of high performance coatings products that include insulation, corrosion resistance, and abrasion and impact resistance, as well as lubricity properties. All coatings are applied at one of three regional production facilities located in Pennsylvania, Mississippi and Arizona.

Jet-Hot Coatings first launched operations in the military aerospace industry on jet-fighter engines and submarine parts subjected to high temperatures, cyclical stress loads and corrosive environments. Early applications included protecting parts on aircraft-carrier launch systems for the U.S. Navy and armored vehicles for the U.S. Army. Within five years, products were released to the automotive aftermarket. Jet-Hot's intellectual property base includes a popular Sterling formula, which includes silver powder.

MCCI sells Jet-Hot products in multiple industries including performance motorsports, automotive and over-the-road trucking, motorcycles, and recreational vehicles. Approximately 60% of MCCI/Jet-Hot's $5.5 million annual revenue is generated in aftermarket high performance coatings applications.

"MCCI has done a superior job in branding their motorsports coatings under the Jet-Hot label," said Clayson. "The founder of MCCI/ Jet-Hot, Mike Novakovic, has had a vision to drive aftermarket sales that have given Jet-Hot a strong market presence."

blog comments powered by Disqus

Receive free Coatings World emails
Sign up now to receive the weekly newsletter, and more!

Enter your email address:
Company Spotlight
Sunin Machine Co., Ltd.
No.96, Chiao Ho Rd ,Chungho Dist
New Taipei City, Taiwan , 235
Taiwan Roc
View Profile
18F, No.85, Sec. 1, Chung-Shiao E. Rd.
Taipei, Taiwan, 100
View Profile
Siltech Corporation
225 Wicksteed Avenue
Toronto, ON, M4H 1G5
View Profile
Houchi Chemical Co., Ltd
No.56, Fu Chow Street
Taipei, Taipei, 100
View Profile
Micro Powders, Inc.
580 White Plains Rd.
Tarrytown, NY, 10591
View Profile
BASF Corporation
100 Campus Drive
Florham Park, NJ, 07932
View Profile
AZ Electronic Materials Co., Ltd.
No. 458-6, Sinsing Road Hu Kou Township Hsinchu Country 303, Taiwan
Hsinchu Country, Taiwan, 303
View Profile
Follow Coatings World On