December 5, 2013
Delos Capital, LLC (“Delos”), a recently launched private equity firm based in New York City, announced today the acquisition of California Products Corporation (“CPC” or the “Company”), which closed on November 27th. Delos sourced as well as led the transaction and partnered with Satori Capital, LLC and other co-investors.
CPC is a privately held Massachusetts-based manufacturer of water-based specialty chemical coatings used in consumer and industrial applications, including tennis court and track recreational coatings, high-end consumer paints and stains, and specialized environmental remediation coatings.
“Delos is excited to partner with CPC’s management team for the next stage of the Company’s growth,” said Matthew Constantino, founder of Delos. “CPC is a best-in-class company in the specialty coatings and paints sector, and we are confident that this partnership between management and the investor group will strengthen the Company’s market position.”
“CPC’s experienced management team looks forward to working with Delos to accelerate our growth and leverage our platform into new products and markets,” said Peter Longo, Chairman and Chief Executive Officer of CPC.
Steven McMenamin, Chief Operating Officer, added, “CPC’s management expertise, combined with Delos’ business acumen and wide network of contacts, will help us formulate new strategic directions and take full advantage of a growing market.”
About Delos Capital, LLC
Delos Capital, LLC, founded in 2013, invests opportunistically in North America-based lower middle-market companies in the Chemicals, Packaging, Industrials, and Consumer sectors. The Delos team has a long track record of success in executing complex transactions in these industries and employs a value-oriented sector-driven approach coupled with leveraging trends in the interrelated credit and equity markets.
About Satori Capital, LLC
Satori Capital is a middle-market growth capital private equity firm based in Dallas, Texas. Satori partners with management teams that are building significant long-term value and whose businesses meet a set of criteria it describes as sustainability. These businesses deliver strong returns by operating with a long-term perspective, committing to their mission or purpose, and focusing on creating value for all stakeholders. The investment team has a long and successful track record as private equity investors and as founders and chief executive officers.