MONTREAL--(BUSINESS WIRE)--The Protech Group is pleased to announce the acquisition of MF Paints Inc., a prominent manufacturer and distributor of premium-quality architectural paints and stains based in Laval, Quebec. Montreal-based Protech has acquired 100% of the shares of MF Paints, continuing its long-term commitment to the Quebec economy.
The acquisition, which will take effect on October 7, 2023, marks a significant milestone for the Protech Group, as it broadens its horizons by expanding into the retail and commercial building paints market. MF Paints Inc. has been a trusted name in the Canadian paint industry for over 50 years, offering high-quality paints and stains. MF Paints is a household name in the eastern Canadian market, and 100% of its products are manufactured in Laval, Quebec.
The acquisition of MF Paints Inc. aligns with The Protech Group’s strategic vision to diversify and strengthen its presence in the Canadian market. It brings together the extensive experience and capabilities of The Protech Group, with the longstanding reputation and expertise of MF Paints Inc. Protech is committed to providing support and leveraging its purchasing, technical, and manufacturing capabilities to further enhance MF Paints Inc.'s market position and product offerings.
“We are thrilled to welcome the talented management team and employees at MF Paints Inc. to the Protech family,” stated David Ades, President, Protech Group. “The acquisition of MF Paints Inc. represents a combination of shared values and a commitment to excellence in the industry. Under the leadership of the Morello family, MF has grown into the pre-eminent paint brand in the Quebec market. Customers can anticipate continued access to premium, environmentally conscious paint products designed to meet the diverse needs of the Canadian market.”
Anthony Morello, president of MF Paints, added, “We are excited to join forces with Protech Group. This represents a unique opportunity to benefit from a like-minded, customer-centric organization, with significant coatings expertise, and an international reach. Our clients will benefit from extensive expertise in new technologies and added manufacturing capabilities that will continue to fuel growth achieved in recent years. The continuity of MF Paints, for our loyal employees and customers, was an important consideration for the shareholders when deciding to join the Protech Group. I have no doubt Protech will continue to grow MF Paints with excellence and bring it to the next level.”
For over half a century, MF Paints Inc. has been a driving force in the Canadian paint and stain industry. They have consistently distinguished themselves by offering premium-quality, 100% Quebec-made products. With a strong focus on research, development, and personalized customer service, MF Paints Inc. has formulated products uniquely adapted to the demands of both residential and commercial projects.
About the Protech Group
For more than 45 years, the Protech Group has been developing and manufacturing coatings, paints, and specialty materials. Through quality and innovation, we formulate the right mix to protect and enhance what matters most to our customers. Headquartered in Montreal, Quebec, Canada, Protech Group products are manufactured in more than 25 sites worldwide. We serve our customers in countless markets and industries, including construction, infrastructure, transportation, consumer goods, and healthcare. To learn more, visit www.theprotechgroup.com.
CIBC Mid-Market Investment Banking acted as exclusive financial advisor to MF Paints.
