As initially reported in our July issue (As We Go To Press, page 8), Wattyl has sold its US businesses—Coronado and Lenmar—to Insl-X, a U.S. coatings maker based in Stony Point, NY.
At the close of the deal, Wattyl will exit the U.S., a market it first entered in 1994 when it acquired Coronado (based in Edgewater, FL). In 1997, it purchased Lenmar, based in Baltimore, MD.
According to Robert Hechler, president and CEO of Wattyl U.S., the transaction will allow Coronado and Lenmar “to continue major new initiatives to strengthen our position in the market, exceed customer expectations and continue to deliver high quality products and service to our dealers and end users. This move will allow us to grow with a domestic partner who is committed to the highest levels of customer service and product quality.”
Insl-X, was founded in 1936 as a manufacturer of coatings for the drum reconditioning industry. Acquired by James Weil in 1978, the company has expanded into niche and industrial maintenance product segments, producing a complete line of specialty paints and coatings including Aqua Lock, Prime Lock, Seal Lock, Hottrax, Insl-Thane and Surestep. The firm also manufactures a line of special purpose coatings including a lead encapsulating coating, floor coatings and coatings for sporting activities, pools and traffic applications.