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Tuesday, 17 September 2019
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Markets & companies, Coatings market

Industrial coatings: Spencer Coatings buys Stokes Paint

Friday, 11 January 2013

Spencer Coatings has acquired Stokes Paints in a deal worth GBP 5 million (GBP 1 = EUR 1.22).

James Stokes (left) of Stokes Paints and Phil Buck of Spencer Coatings. Source: Spencer Coatings

James Stokes (left) of Stokes Paints and Phil Buck of Spencer Coatings. Source: Spencer Coatings

Employing more than 100 people, the enlarged Scottish industrial coatings manufacturer will have a turnover of more than GBP 16 million per annum and support the company’s continuing growth in global markets. The Aberdeen-based company will maintain its corporate headquarters.

Following the acquisition, the company is investing a new Distribution Center in Aberdeen, which will carry out color finishing and will stock products for Spencer customers in Scotland including customers operating in the North Sea oil and gas industry. It will also establish a new technical center in Aberdeen to continue to develop new products for its customers across Scotland and Offshore.  Spencer’s main Research and Development unit will be merged with the Stokes Laboratories and relocated to a new facility at Huthwaite.

The coatings producer will also retain the Stokes Paints’ manufacturing facility in Huthwaite, Nottinghamshire, which will become the company’s primary production hub.

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