New Nautical Coatings, Inc., parent company of Sea Hawk Paints, has acquired Blue Water Marine Paints from Valentus Specialty Chemicals. Terms were not disclosed, but a source at the company said that it represented a “multi-million-dollar investment.”
“The acquisition of Blue Water Marine Paints, as a value-based brand, will complement our existing Sea Hawk Paints premium brand position in the marine coatings market and provide New Nautical Coatings with an additional growth platform, while diversifying our penetration beyond pleasure craft and into the brown water commercial marine coatings market,” said Erik Norrie, New Nautical Coatings’ CEO, in a statement.
The Blue Water Marine Paints product line includes antifoulings, topside finishes, epoxy primers, and marine urethanes. New Nautical Coatings will retain the Blue Water brand name for distribution. Production has been moved to Sea Hawk headquarters in Clearwater, Fla., and orders are being filled.