Glen Oaks Capital and Tecum Capital have acquired StanChem Resins and Dux Coatings, creating a new specialty chemicals platform producing water-based emulsion polymers and solvent-based protective coatings. Glen Oaks acted as lead sponsor, with Tecum supplying subordinated debt and equity growth capital to support the partnership and fund expansion plans. First Commonwealth Bank provided senior debt financing.

The businesses were acquired simultaneously in a carve-out transaction and will continue under the existing senior management team, which is investing alongside Glen Oaks and Tecum. Headquartered in East Berlin, Connecticut, StanChem develops and manufactures high-performance resins and specialty coatings through two divisions. StanChem Resins formulates acrylic, vinyl-acrylic and styrene-acrylic emulsion polymers for architectural and industrial coatings, adhesives and sealants, nonwovens and specialty applications.

Dux Coatings, based in Lodi, New Jersey, manufactures two-component urethane and epoxy coatings, marketing more than 1,000 SKUs to over 2,000 customers across tub and tile refinishing, automotive, woodworking, artistic and general industrial markets. John Powers said Glen Oaks is backing a management team and employee base customers have trusted for decades. The Tecum team included Matt Harnett, Paul Oris and Josh Savacool. Stevens & Lee advised Tecum, Ice Miller advised Glen Oaks, and Houlihan Lokey advised StanChem. Terms were not disclosed.