Painters Supply & Equipment Co. Acquires Interbay Coatings, Inc.

Odyssey Investment Partners Acquires Painters Supply & Equipment Co.

August 17, 2021

Transportation

Odyssey Investment Partners has acquired Painters Supply & Equipment Co. (PSE), a specialty distributor of paint, coatings and related consumables serving automotive refinish, commercial and industrial markets. The deal will support PSE's continued geographic and category expansion and consolidation strategy while the existing leadership team remains in place; financial terms were not disclosed.

Painters USA Acquires Lakeside Painting

September 16, 2024

Industrial Services

Painters USA has acquired Lakeside Painting to expand its commercial and industrial painting, floor coating and industrial cleaning capabilities in Wisconsin. The deal brings Lakeside Painting's regional team and experience into Painters USA's national platform, with Lakeside owner Joe Pangburn endorsing the move as an opportunity to better serve clients and pursue larger projects.

American Industrial Partners Acquires PPG's U.S. & Canadian Architectural Coatings Business (Pittsburgh Paints Co.)

December 2, 2024

Building Products

American Industrial Partners (AIP) completed the acquisition of PPG's U.S. and Canadian architectural coatings business for $550 million and has renamed the business The Pittsburgh Paints Company. The newly independent company — a top-three producer of interior and exterior paints, stains, caulks, adhesives and sealants with more than 6,000 employees and 750 company-owned stores — will operate as a focused platform serving professional and DIY end markets across the U.S. and Canada.

Midwest Growth Partners Sells Inland Coatings to Confidential Strategic Buyer

May 24, 2021

Manufacturing

Midwest Growth Partners has sold Inland Coatings Holdings, LLC to a confidential strategic buyer, marking an exit for the West Des Moines-based PE firm. Founded in 1978 and headquartered in Adel, Iowa, Inland manufactures roof and automotive aftermarket coatings (SEBS, silicone, acrylic and polyurethane) and includes the previously acquired TRUCO Coatings and Aldo Products brands.

The Waterproofing Company Acquires Phoenix Bay State Construction Company, Inc.

January 5, 2023

Construction

The Waterproofing Company, a long-established waterproofing and restoration contractor, has acquired Phoenix Bay State Construction Company, Inc., a nearly 50-year-old New England masonry construction and restoration firm based in Boston, Massachusetts. The acquisition expands The Waterproofing Company's masonry and restoration capabilities and positions the combined organization to pursue additional regional growth opportunities.

Norlee Group Acquires Inter-Bay Electric Company

November 5, 2025

Electrical Services

Norlee Group, a Heartwood Partners-backed platform, has acquired Inter-Bay Electric Company (IBE), a Tampa-based commercial electrical contractor, in a transaction that closed on November 5, 2025. The add-on expands Norlee's Florida footprint and service capabilities—particularly in commercial, education and public-sector electrical and low-voltage work—while IBE will continue to operate under its current leadership.