DALLAS, Feb. 26, 2021 /PRNewswire/ -- DalFort Capital
Partners ("DFCP") is pleased to announce the successful closing of
the sale of its portfolio company, VersaFlex, to PPG
(NYSE:PPG).
Headquartered in Kansas City,
Kansas, VersaFlex is an industry-leading manufacturer
specializing in polyurea, epoxy and polyurethane coatings for water
and waste-water infrastructure, flooring, transportation
infrastructure, and industrial applications. Since DFCP's initial
investment in 2017, the company completed three add-on acquisitions
resulting in substantial growth and scale generating revenue in
excess of $70 million in 2020.
Morris Wheeler, Chairman of the
Board of VersaFlex and DFCP Operating Partner, stated, "We have
enjoyed our journey with VersaFlex and are excited for the team as
they join PPG. This outstanding outcome is a testament to the
VersaFlex team and DalFort's strategy of partnering with business
owners and their operating teams to build exceptional
companies."
DalFort Capital Partners is a sector-focused investment firm
based in Dallas, Texas,
specializing in partnering with entrepreneurs and management teams
in the lower middle market. We work collaboratively to strengthen a
company's strategic and financial position through operational
improvements and acquisitions of complementary businesses. We
specialize in identifying and executing strategic add-on
acquisitions for our portfolio companies that enhance the company's
relationship with existing customers and expand its reach into new
geographies or market niches.
Lazard Middle Market served as
exclusive financial advisor to VersaFlex. Greenberg Traurig, LLP
served as VersaFlex's legal counsel.
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SOURCE DalFort Capital Partners, LLC