Huron Capital Makes Investment In Chemicals Platform

Detroit - Huron Capital Partners LLC announced that its portfolio company Quest Specialty Chemicals, Inc. has acquired Foxcolor, Inc. through Quest's wholly-owned subsidiary, Raabe Company LLC. Based in Menomonee Falls, WI, Raabe is a manufacturer of branded custom matched touch-up paint and provider of private label aerosol paint filling services. Raabe's touch-up products consist of ready-to-apply paints that closely match original equipment coatings and are used to repair the surfaces of industrial and commercial products along all points of the supply chain. Foxcolor is a custom color match touch-up paint manufacturer and full service paint packaging company based in Oshkosh, WI.

In November, 2004, Huron initially funded Quest to acquire Raabe as part of a buy and build acquisition strategy in the specialty coatings markets. Quest's initiatives in the area are led by industry executives Frederick Quinn and Gerry Loftus. Since acquiring Raabe, Quest has been exploring acquisition opportunities in the coatings, adhesives & sealants and films markets.

Of the Foxcolor acquisition, Mr. Quinn stated, "The acquisition of Foxcolor adds an important market segment to Raabe's Precision Color branded touch-up paint business. We will integrate the business into Raabe's state of the art manufacturing operations and meaningfully leverage Raabe's existing fixed asset base and production capabilities." Michael R. Beauregard, a partner at Huron, added, "The acquisition of Foxcolor is a synergistic addition to our platform investment in Quest. The integration of Foxcolor into Raabe will bring added production capability and product depth to our touch-up business. We expect to make additional synergistic acquisitions for Quest and Raabe in the future." The acquisition of Foxcolor was on a proprietary basis directly with the owners of Foxcolor.

SOURCE: Huron Capital Partners LLC