Amsterdam-based AkzoNobel N.V. has agreed to acquire New Nautical Coatings, owner of the Sea Hawk brand of yacht paint and antifouling products, according to a company statement. Financial details were not disclosed.
Based in Clearwater Beach, Florida, New Nautical Coatings is a privately owned company established in 1978. It’s major market is North America and the Caribbean.
“North America is a key region for our yacht coatings business – it’s the largest yacht coatings market in the world – so this is an excellent deal which perfectly complements our activities and offers excellent opportunities for growth,” AkzoNobel CEO Thierry Vanlancker said in the statement.