Century Park Capital Partners Recapitalizes NCP Coatings

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Century Park Capital Partners has recapitalized NCP Coatings, Inc. Headquartered in Niles, Mich., NCP develops and manufactures performance coatings solutions for the military, industrial, commercial and forestry end markets. NCP marks the third platform and 11th overall investment by Century Park in the specialty chemicals sector. Terms of the deal were not disclosed.

Incorporated in 1948, NCP Coatings was founded by C.M. “Marvin” Hannewyk II to provide paints and coatings for military vehicles to Studebaker, which was located nearby in South Bend, Ind. Since 1948, NCP has built a portfolio of formulations designed to protect critical military and industrial assets. NCP currently manufactures and supplies a broad range of technologies, including anticorrosive epoxy systems, high-gloss urethane systems, polysiloxanes, unique specialty systems for forestry customers and a range of MIL-SPEC-approved military coatings.

Doug Holmberg, Century Park managing director and a 25-year coatings industry executive, joins NCP as CEO and board member. Charlton Keultjes, who currently leads NCP, will remain president and COO.

“Century Park’s team and their core values align well with the Hannewyk family ownership as well as NCP’s vision for future growth,” Keultjes said. “Century Park’s track record of success in the specialty chemical industry is a perfect fit as we seek to invest in expanding NCP by adding new talent, new capabilities and combining our strengths with other performance coatings businesses through strategic acquisitions.”

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