The Crown Group Acquired By High Road Capital Partners
Provides pre-treatment, acid-cleaning, electrocoating, powder coating, water-based spray and cavity wax coating in seven facilities in Michigan, Indiana, Tennessee, South Carolina and Iowa.
High Road Capital Partners has completed the acquisition of The Crown Group, a Warren, Michigan-based coating company that serves the automotive, agricultural, heavy truck and other industrial end markets.
Founded in 1950, The Crown Group provides pre-treatment, acid-cleaning, electrocoating, powder coating, water-based spray and cavity wax coating. The company operates from seven manufacturing facilities in Shelby, Detroit, and Livonia in Michigan; Fort Wayne, Indiana; Portland, Tennessee; Greenville, South Carolina and Waterloo, Iowa.
“Crown’s disciplined and systematic operational approach, including the ability to seamlessly integrate itself in its customer’s supply chain and provide value-added logistics services, is highly valued by its customers for whom avoiding business interruption or delays is paramount,” said William Connell, High Road Partner. “We are excited to work with Crown’s outstanding management team and Charter Oak to drive multiple growth initiatives.”
Frank Knoth, President of The Crown Group, will continue to lead the company post-closing. He and The Crown Group’s management team invested in the transaction alongside High Road.
“With the capital and operating support of High Road and Charter Oak, the management team looks forward to growing the business and continuing to provide best-in-class coating services to our customers,” Knoth said.
High Road’s acquisition of The Crown Group closed on May 9. Financing for the transaction was provided by U.S. Bank and Babson Capital Management, LLC. Charter Oak and Babson Capital also invested equity alongside High Road. Transaction consideration was not disclosed.
High Road has completed 24 transactions, comprising 22 acquisitions – 10 platform investments and 12 add-on acquisitions – and two exits since its founding in 2007.
From humble beginnings as an Indiana-based tin shop, Koch Finishing Systems has evolved into one of the most trusted finishing equipment providers in the industry.
Julie Holmquist of Cortec Corporation discusses ways to avoid mud cracking defects when applying anticorrosion coatings.
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Loading
Next Up
Why am I seeing this?
Dear Products Finishing Audience Member:
Starting on Thursday August 8, 2024, PF will begin “gating” its premium content, asking all new website users to provide some information about themselves — name, title, employer, email address — before they are provided free access to the content.
We are doing this because the ways PF’s audience finds and accesses our content is changing. Google’s search algorithms, increasingly, make it difficult to connect PF’s content with the people who might make use of it. On top of that, generative AI like ChatGPT is serving up PF content to internet users without attributing that content to PF.
As a result, it has become increasingly important for PF evolve its audience development strategy and learn as much as possible about who is accessing our content, what content they are accessing and how they are accessing it.
With this audience development strategy, we hope to do two things:
First, we will be better able to deliver directly to our audience the editorial content that aligns with the surface finishing materials, processes and technologies that interest them.
Second, we will be better able to connect the materials, equipment and services our advertisers supply with the audience that is most interested in them.
PF plays a distinctive role and has earned a place of esteem within the focused and specialized industry it serves. Large developments in the media landscape are forcing us to change the way we communicate with our audience. We are confident that our audience values the role PF plays in their professional lives and will join us in this effort to stay connected to them.
We thank you for your continued interest in and support of PF and welcome any questions you might have about the brand’s new content gating strategy.
