Indiana paint company acquired
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An Indiana-based distributor of automotive and industrial paint and supplies is under new ownership. Automotive Color & Supply, headquartered in Fort Wayne, has been acquired by St. Louis-based private equity firm Wilsquare Capital, though financial terms are not being disclosed.
The company was founded in 1951 by the Byers family and has been family-run for three generations leading up to the acquisition.
CEO Josh Byers said the deal will allow his company to leverage Wilsquare’s understanding of distribution, operational knowledge, and geographic expansion “to take ACS to the next level of growth while preserving the legacy of my family’s business.”
Byers added that Wilsquare as a partner aligns well with the company’s culture.
“Wilsquare is thrilled to partner with Josh Byers and the ACS team to build upon the legacy the Byers Family began decades ago,” Wilsquare Capital Director Jack Randazzo said in a news release. “With a shared commitment to integrity and service we are excited to help Josh and his team achieve the next level of growth and expansion of ACS’s reputation in the industry.”
Automotive Color & Supply operates two offices each in Fort Wayne and Indianapolis, as well as locations in Columbus, Kendallville, LaPorte, Marion, Warsaw, and Danville, Illinois.
The company did not specify if any jobs would be affected by the acquisition. Multiple requests for more information from Inside INdiana Business were not returned.