PPC Advises Color Putty Company on Strategic Sale

Promontory Point Capital is excited to announce another one of our firm's recent client successes.

Color Putty Company manufactures and distributes colored putties used for filling nail holes or imperfections in woodwork, paneling, furniture, and cabinetry. Established in 1963 with its headquarters in Monroe, Wisconsin, the Company’s putty lines are the market leader among Do-It-Yourself consumers, professional building and home improvement contractors, as well as in the modular housing and recreational vehicle industries. Produced in the USA, Color Putty is sold across North America through national and regional distributors into retail paint and hardware stores, home improvement stores, and OEM manufacturers. Color Putty products are available in both oil-based and waterborne lines in a wide spectrum of colors to achieve vibrant hues in light and dark-colored wood.

As this family-owned business began to contemplate succession planning goals, the Company’s law firm referred the ownership group to Promontory Point Capital. PPC was subsequently engaged to explore strategic alternatives for this branded, building products business, and the firm marketed Color Putty to a targeted audience of strategic acquirers with existing exposure to the building products industry. After soliciting preliminary offers, PPC assisted in negotiating a Letter of Intent with U-C Coatings. Based in Buffalo, New York with a variety of operating units (including Kenosha, Wisconsin), U-C Coatings is a world leader in wood protection products that address surface protection, beautification, restoration, and repair. U-C Coatings is a portfolio company of High Road Capital Partners, a private equity firm based in Connecticut. PPC managed the entire engagement and assisted in closing the transaction during the second quarter of 2023 representing another successful Done Deal for our firm.

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Promontory Point Capital is a Milwaukee-based investment banking firm focused on the needs of Midwestern privately-held businesses. Since being formed in 2004, our firm has led over 175 client engagements including the evaluation of business sale and recapitalization options, the arrangement of debt and equity financing, and the planning and execution of growth strategies involving acquisitions, mergers, and joint ventures. Many inquiries to Promontory Point Capital include business objectives encompassing:

Ownership Planning, including Transition & Liquidity Goals: PPC is frequently introduced to business owners and/or senior management teams when shareholders are interested in learning about their options involving a potential sale of all or a portion of a business. We have arranged numerous transactions involving strategic partners, private equity firms, ESOPs, management buyouts, and other types of shareholder “recaps” including both minority and majority recapitalizations.

Financing, Refinancing, & Debt Restructuring: PPC is oftentimes referred into situations where a business encounters a funding need that is beyond the comfort zone of a company's existing senior bank lender. PPC has arranged numerous transactions for companies involving senior bank debt, non-bank debt, subordinated debt, sale-leaseback financing, and other forms of institutional funding to support growth, acquisitions, shareholder redemptions, management buyouts, and other corporate initiatives.

Strategic Growth/M&A: Companies that have an interest in growing and expanding via acquisition or strategic joint venture are regularly referred to PPC given our firm's extensive corporate development experience.

We welcome your confidential inquiry and encourage you to visit our firm's website at www.promontorypointcapital.com for more information on our organization's capabilities and numerous other client successes.