Artemis Capital Partners (Artemis), a Boston-based private equity firm focused exclusively on partnering with differentiated industrial tech manufacturers, announced the successful acquisition of R.M. Lucas, Inc., a leading manufacturer of coatings, sealants, and adhesives for roof repair and restoration. This partnership represents another milestone within Artemis’ history of Specialty Chemicals and Advanced Materials ownership.
Founded in 1912, R.M. Lucas has been driving coatings and sealants innovation for over 100 years, serving customers with high quality service and leading technology. With a full suite of roof restoration and repair products, R.M. Lucas solves complex environmental challenges for its customers – from weather, fire, and wind resistance to reflection, energy efficiency, and effective life increases.
Artemis Managing Director and new R.M. Lucas Board member, Peter Hunter, noted the fundamental fit with Artemis saying, “R.M. Lucas’ formulated coatings fit perfectly within the Artemis Specialty Chemicals and Advanced Materials segment. Additionally, it represents yet another Artemis portfolio company serving acyclical, high conviction end markets with technological innovation and quality customer service. We’re honored to partner with Rob and the R.M Lucas team.”
Since 1995, R.M. Lucas’ President and CEO, Rob Barry, significantly expanded the Company’s geographic presence and product portfolio. “For the last 25 years, our team has worked to grow this business from a very small company to what is it today. I’m very proud of the team and how we’ve served our customers with a differentiated product approach. To meet the customer demand and continue to develop our organization, I believe that Artemis is the best strategic partner to grow and support this organization. From day one, their enthusiasm for the business was unmatched.”
Deal lead and Artemis Vice President, Olly Forrer, commented on the partnership and future of RM Lucas, “I truly can’t say enough about the Barry Family and the business that they’ve built. We’re excited to partner with Rob and our new teammates to strategically build the middle market leader of roof repair and restoration coatings. RM Lucas’ exceptional product depth and customer-centric focus make it the ideal platform to serve increasing demand in the roof repair and restoration market.”
Under Artemis’s ownership, R.M. Lucas will continue to operate as an independent company from its headquarters in Chicago, IL. Deloitte Corporate Finance LLC acted as the exclusive financial advisor to R.M. Lucas Co.
Headquartered in Chicago, IL, R.M. Lucas Co. is a diversified, state-of-the art manufacturer of professional quality coatings, sealants and adhesives for exterior building envelopes. Products sold under the LUCAS brand are sold through distributors in all areas of the US, Canada, Mexico and the Caribbean.
Headquartered in Boston, MA, Artemis is a specialized private equity firm focused on partnering with differentiated Industrial Tech companies, whose people and products enable and accelerate a healthier, safer, more connected, productive, and equitable world.