AkzoNobel N.V. recently announced that it will expand its presence in the North American yacht coatings market through the acquisition of New Nautical Coatings, owner of the Sea Hawk brand. Financial details were not disclosed.
New Nautical Coatings is reportedly one of the top players in yacht coatings in North America. Operating a specialized production facility in Clearwater Beach, Fla., the business is mainly active in North America, with sales also being generated in the Caribbean and Australasia. AkzoNobel reports that the Sea Hawk brand enjoys high customer loyalty among yacht owners, shipyards, and maintenance service providers based on its premium quality and product performance.
“North America is a key region for our Yacht Coatings business—it’s the largest Yacht Coatings market in the world—so this is an excellent deal which perfectly complements our activities and offers excellent opportunities for growth,” said Thierry Vanlancker, AkzoNobel CEO.
According to Jean Michel Gauthier, director of AkzoNobel’s Marine, Protective and Yacht Coatings business, “Acquiring New Nautical Coatings means we’re now well positioned to expand our operations in North America and further improve the service levels for our customers. It’s an established business, with a strong product portfolio, and we’re excited to welcome the widely-admired Sea Hawk brand into the AkzoNobel family.”
Recently recognized as one of North America’s top coatings manufacturers, New Nautical Coatings was established in 1978. The business mainly supplies premium antifouling coatings, as well as several other products such as primers and varnishes.