Spencer Coatings Limited, the East Midlands, UK-based industrial coatings manufacturer, has announced the acquisition of West Bromwich-based Protega Paints in a multi-million pound deal.
The company enjoys a rich heritage in the industrial coatings business and has built a strong position in Agricultural, Construction and Earthmoving (ACE), general industrial and protective coatings markets, key areas for Spencer Coatings.
Protega, which employs 56, also has a strong business with a network of distributors and own the well-known Corroless brand. Spencer Coatings, which is a member of energy sector business development organisation, NOF Energy, will continue to operate the West Bromwich factory alongside its Huthwaite facility providing much needed production capacity and flexibility for future growth.
The company will continue to invest in key markets and will focus on the development of its export business through the Corroless brand. Following the acquisition, Spencer Coatings has a combined workforce of more than 160 and plans to increase that number as part of its growth strategy.
