InterOcean Advisors is pleased to announce the successful sale of Dedoes Industries, Inc. (“Dedoes”) to entities established by Ashland Capital Partners, a Chicago-based private investment firm devoted to investing in and growing companies in the middle market. InterOcean acted as the exclusive financial advisor to Dedoes Industries, Inc.
“Since my father founded the company in the 1940s, Dedoes has been a family-run and family-oriented enterprise. I am thrilled that we found a partner who will continue the Dedoes legacy and culture, and will help the company achieve its ambitious growth plans in the future.”
-Nancy Amberger, Chairman of the Board of Dedoes Industries, Inc.
Dedoes is the exclusive U.S. producer of mixing, blending, formulation and storage equipment solutions for the automotive refinish industry and a leader in the worldwide market, serving the leading paint manufacturers and distributors on a global basis.
“Dedoes occupies a unique position in the global automotive refinish market, which has translated into extremely stable recurring revenues over the years,” stated Nick Newlin, a Managing Director at InterOcean. “Coupled with a rich history of innovation, the launch of an exciting new product, and the retention of the company’s extremely experienced and talented management team, Dedoes is poised for considerable growth in the near future.”
About Dedoes Industries, Inc.
Originally founded in 1941, Dedoes Industries, Inc. is a manufacturer of mixing, blending, formulation and storage solutions for the automotive refinish industry. Products are sold to paint manufacturers, distributors and large refinish centers. The Company’s headquarters and manufacturing facility are located in Walled Lake, Michigan.
About Ashland Capital Partners
Ashland Capital is a Chicago-based private investment firm devoted to investing in and growing companies in the lower-middle market. Ashland acquires controlling interests in companies with values ranging from $10 million to $50 million and strengthens these businesses with targeted, strategic guidance. Ashland invests for the long term, partnering with in-place visionary management teams to create lasting business value.
InterOcean Advisors LLC is a Chicago-based investment bank that provides mergers and acquisitions and capital raising advisory services to manufacturing and business services companies. For more information, please visit www.ioadvisors.com.