Protech has completed the acquisition of the thermoset powder coatings business of Lynx Thermoset Coating.
The Protech Group, a Canadian developer and manufacturer of paints, coatings and specialty materials, has announced that it has reached an agreement to acquire the thermoset powder coatings business of Lynx Thermoset Coating Ltd., a company based in Calgary (Canada).
The acquisition was completed on 18th October 2021. The manufacturing equipment belonging to Lynx will remain in the Calgary site and all employees have joined Protech.
Lynx’s 40 years of experience in the industry and its portfolio of high-quality coatings will now serve as a local quick turnaround custom order facility and warehouse for hundreds of stock colours from 10 other Protech production sites in North America.
“I'm pleased to welcome our newest team members to the Protech Group and look forward to all we can accomplish together as one Protech Group. The addition of Lynx’s team, industry expertise, and operations strengthen provide a strong platform for growth in Western Canada,” stated David Ades, president of the Protech Group.
“We strongly believe that being part of the Protech Group will accelerate operational growth by increasing market access through the Protech Group’s existing sales and distribution channels,” commented Derek Sheppard, the former president of Lynx Thermoset Coating Ltd. and now facility manager for Protech Group.
Strategic acquisitions are part of the recent growth efforts of Protech Group: since the beginning of 2020, the company has also acquired the thermoset powder coatings business of ACG industries (Gondecourt, France), the liquid paints business of Excalibur Paints & Coatings Ltd. (Wichita Falls, U.S.A.) and Winslow Browning Inc. (Liberty, U.S.A.). Protech products are now manufactured in more than 20 sites worldwide and serve several sectors, including construction, infrastructure, transportation, consumer goods and healthcare.