N.Y. company buys NH’s New Image Coatings
Manchester maker of sealer gets ‘greater financial horsepower’
New Image Coatings the Manchester-based manufacturer of environmentally sensitive waterproofing products and poly-blends for wood, concrete/masonry and other surfaces, has been sold to U-C Coatings of Buffalo, N.Y.
The sale was completed April 20. No sale price was announced.
New Image, located at 150 Dow St. in the Manchester Millyard,, markets its products under the brand Seal-Once, a non-toxic, eco-friendly, zero-VOC waterproofing sealer for all wood, composite decking and concrete/masonry surfaces.
“We have grown dramatically over the past few years but came to realize that this revolutionary product needed a partner and greater financial horsepower to take this product to its full potential across the globe,” said Hank Croteau, owner of New Image Coatings. “The sale to U-C Coatings will open up broader markets and provide a strategic vision for deploying Green coatings to a broader market than we could ever achieve on our own.”
Seal-Once is currently sold through a network of retail paint/hardware, and lumber stores across the United States, and has distribution agreements in the United States, Asia, Canada, Caribbean and beyond. U-C Coatings markets a range of products worldwide, including to the logging industry, the company said.
Among other uses, Seal-Once is used as a sealer in private homes, industrial buildings and on pavers.
Business Transition Strategies, Pembroke, served as transaction advisor to New Image Coatings and coordinated the transaction. John Howe, director, and Ken Schaefer, deputy director, worked as a team on the project.
U-C Coatings was supported in its expansion by Sidereal Capital Partners and Argosy Capital.