DETROIT, MI--(Marketwire - April 14, 2010) - Frederick Quinn and his partner, Gerry Loftus, have a dynamic vision that focuses on four key points when it comes to the growth of the business: Repair, Restore and Preserve the assets of our customers with an emphasis on being Environmentally Friendly. The company, Quest Specialty Chemicals (QSC), is a holding company that looks for acquisitions to build a world-class business in the specialty coatings industry.
"We have grown since 2004 from just under $25 million to over $100 million through acquisition and organic growth with earnings growth paralleling our revenues," said Quinn. "Our focus is on companies with established revenue and earnings growth due to niche market positions and strong proprietary technology."
Quest Specialty Chemicals is looking for its next threshold in revenues in the area of $200 million. Quinn feels this will be accomplished by a focus on the core markets of industrial, construction and transportation through both acquisition and the organic growth of its current businesses.
Over the past five years, QSC has acquired Raabe (touch-up paint and aerosols) and competitors Foxcolor and Custom Finishes, Matrix System Automotive Finishes and Zolatone (automotive and industrial marine coatings), United Coatings and Hydro-Stop (roofing systems and building envelope sustainability).
The success of QSC is centered on Quinn's focused vision and the partnership of his co-entrepreneurs: Gerry Loftus, COO, and Carol Bramson, Board Member. Quinn, Loftus and Bramson each bring a core competency of experience in running companies and being extremely adept in guiding the funding to make things happen.
For most other companies throughout the United States, the last three years have been managed in tough economic waters. It is a rare coincidence that the Quest Specialty Chemicals logo is that of a giant sailing ship poised to handle the most challenging seas. The business realty for QSC is that the company has grown despite the tumultuous times and is looking to increase revenues and earnings growth again in 2010.
According to Quinn, the company has been successful by navigating with a well defined and quantified strategic plan supported by specific new revenue initiatives. "Despite the challenges of raw material increases and an economic recession, the company's earnings have grown every year. At the end of the day, it's all about having a capable, well-focused team to make things happen in the right direction."
About Quest Specialty Chemicals
Quest Specialty Chemicals was founded by Fred Quinn and is funded by Huron Capital Partners. The mission of QCP is to acquire and build specialty chemical companies who are engaged in the formulation of coatings and sealant products, which are designed to provide surface protection to, or the bonding of, flexible and rigid substrates.
QCP seeks enterprises whose core competencies and drive are based on differentiated and defensible product technology in combination with a market niche strategy focus. For more information on Quest Specialty Chemicals, visit www.questsc.com.
Executive Overviews
About Frederick A. Quinn
Frederick Quinn has over 35 years of experience in the specialty chemicals marketplace. Mr. Quinn is the original founder of Quest Specialty Chemicals, Inc. and is presently its CEO, an active Huron portfolio company. He has successfully built, acquired and divested businesses in the specialty chemical industry and has served as CEO of K.J. Quinn, President of Pierce & Stevens, and CEO of Royal Adhesives & Sealants. Mr. Quinn is a graduate of the University of Southern California where he received both his undergraduate and MBA degrees.
About Gerry Loftus
Gerry Loftus's background includes successfully running divisions of BF Goodrich and later Sovereign Specialty Chemicals and growing their value to higher multiples. As COO and CFO of Quest Specialty Chemicals, Mr. Loftus is responsible for all operations of the company and identifying potential acquisition candidates and has a track record of acquiring and leading companies to improved sales growth and profitability. Mr. Loftus is a graduate of Ohio University with a BBA degree in Accounting and received his Masters of Accounting and Information Systems from Cleveland State University.
About Carol E. Bramson
Carol Bramson's professional experience includes private equity investments in leveraged buyouts and advisory assignments to CEOs of growth oriented businesses. As a Partner at Banc One Equity Capital, Ms. Bramson led the firm's investment in, and subsequent sale of, Sovereign Specialty Chemicals. As the lead investor in Sovereign from 1996 to 1999, Ms. Bramson oversaw Sovereign's growth through acquisition and financings. As part of the growth phase, Sovereign acquired K.J. Quinn and recruited Mr. Quinn to a senior executive position at Sovereign. Ms. Bramson is an investor and member of the Board of Directors of Quest Specialty Chemicals. Ms. Bramson earned a Bachelor of Science degree in finance from DePaul University and an MBA with concentrations in finance and business policy from the University of Chicago.