January 31, 2020

Capital Partners Portfolio Company Universal Woods Acquires Innovative Coatings Supplier

Capital Partners® is pleased to announce that Universal Woods, which is owned by Capital Partners Private Equity Investment Fund III, LP in partnership with several employees and former owners of Universal Woods, has completed the acquisition of R&D Coatings, LLC.

Headquartered in Louisville, Kentucky, Universal Woods is the world’s leading manufacturer of hard-surface coated substrates for image sublimation and mezzanine decking.

R&D Coatings is a manufacturer of innovative and environmentally friendly electron beam (“EB”) and ultraviolet (“UV”) coatings based in Pittsburgh, Pennsylvania. R&D has worked with Universal Woods for over 25 years, developing and producing proprietary coatings for the products offered by Universal. R&D Coatings also serves a variety of customers in other unrelated industries including vinyl flooring, plywood panels, and other unique UV applications.

The management teams from both R&D Coatings and Universal Woods invested alongside Capital Partners in this transaction. Mike Zupancic, a long time R&D Coatings employee, will be President of R&D Coatings and he and the R&D Coatings team will continue with the company.

Paul Neumann, CEO of Universal Woods, stated, “We are excited to have R&D Coatings as part of our company. This will accelerate our introduction of new products to the markets we have served for many years. We are also confident that R&D Coatings will continue the tradition of service and innovation that has made them successful and continue to grow with their other customers. We appreciate the support that Capital Partners has provided to Universal Woods and the belief in our business that this new investment represents.”

Capital Partners, based in Connecticut, has a history of investing in family and/or management & employee-owned companies.

“Universal Woods has built a compelling business with unique value-add process technology, a world-class culture, and blue-chip customer base. The addition of R&D Coatings will both support and accelerate management’s robust growth plan” said Managing Director Mark Langer. “Universal Woods has been a fantastic fit with our investment philosophy, and we are pleased to help with this key addition to their business”

Debt financing was provided by PNC Bank and Webster Bank. Finn Dixon & Herling LLP served as legal counsel to Capital Partners and Universal Woods. Copper Run served as the advisor to the seller and Cohen and Grigsby, P.C. served as their legal counsel.

Please contact the following members of the investment team at Capital Partners with investment or add-on opportunities:

Rob Tucker, Managing Partner

Mark Langer, Managing Director

John Willert, Managing Director

John Newman, Principal