Transactions & News

The Bottom Line: NewSpring Invests in Leading Composites Distributor FiberGlass Coatings Inc.

NewSpring ("the Firm"), a family of private equity strategies, announced today that NewSpring Mezzanine, the Firm’s dedicated private credit strategy, has invested senior subordinated debt and common equity in FiberGlass Coatings, Inc.

FiberGlass Coatings is a diversified manufacturer and distributor of multi-use epoxy, resin, and fiberglass products

FiberGlass Coatings manufactures and distributes epoxy, resin, and fiberglass products to a wide range of industries and applications, including marine, manufacturing & industrial, recreation, and DIY home projects and crafts. Based in Florida, the company has over 100 employees, more than 300,000 square feet of warehousing, and a fleet of delivery trucks across its St. Petersburg and Ft. Lauderdale sites.

FiberGlass Coatings will use the proceeds to continue its fast growth

FiberGlass Coatings intends to use the proceeds from this transaction to support the continued growth of its direct-to-consumer sales channel as well as the expansion of its production capacity to facilitate future growth. As part of the transaction, FiberGlass Coatings is being acquired by Third Arch Investments. Tecum Capital Partners is also providing financial support for the transaction.

“At FiberGlass Coatings, our dedication to meeting the needs of all of our customers, from the individual hobbyist, to major manufacturers of composite fabricated products, has fueled our success and drives everything we do. For decades, we’ve refined our deep understanding of composite materials and the projects they relate to, enabling our teams to provide the best service available on the market. We’re proud of what we’ve accomplished so far and look forward to working with our new partners to continue raising the value we provide our customers.”
— FiberGlass Coatings President, Jeff Hargrove

FiberGlass Coatings is led by an innovative, growth-oriented management team

FiberGlass Coatings President Jeff Hargrove has a long history in the fiberglass industry and represents the type of leader NewSpring seeks for partnership.

“FiberGlass Coatings has done a tremendous job diversifying its production capabilities and applications to support a wide range of products, end markets, and customers. Combined with high levels of customer service and a dedication to producing quality products, FiberGlass Coatings has emerged as a fast-growing business with a long runway for continued expansion across the U.S. We’re excited to work alongside the entire FiberGlass Coatings team to support the growth of this business as it continues to elevate the standard of best-in-class epoxy, resin, and fiberglass production.”
— NewSpring Principal, Drew Scannell

Related Articles

The Bottom Line: NewSpring Invests in MAC Panel

NewSpring, a family of private equity strategies, today announced that NewSpring Mezzanine, the...

Transactions & News

June 06, 2024

Read more

Celebrating 25 Years: 25 Tips for Growing Lower-Middle-Market Businesses

For 25 years, NewSpring has remained steadfast in our commitment to the lower-middle market, where...

Operating Advice

May 03, 2024

Read more

Get the latest
NewSpring news


Get the latest news delivered to your inbox

arrow_forward Subscribe now