Based in Andover, Massachusetts, California Products Corporation (“CPC”) is a manufacturer of high-end, water-based acrylic paint, tennis court and track coatings, and environmental remediation and containment coatings. CPC sells almost exclusively through independent paint dealers and maintains a top-two market position in almost every market it serves.
The Muralo Paint Company (“Muralo”), a family business founded in 1894 and headquartered in Bayonne, New Jersey, manufactures paints and coatings that retailers sell in more than 20 states. The acquisition is the first of what CPC’s management team expects to be several strategic acquisitions.
“The acquisition further entrenches CPC as a nationally recognized producer of environmentally friendly paint and coatings, and it allows us to provide additional products in new geographic markets,” said Peter Longo, CPC’s chief executive officer. “It also provides us with the opportunity to achieve significant efficiencies in our state-of-the-art manufacturing facility.”
Consistent with a family business environment, the team at Muralo operates with an innate sense of the stakeholder orientation that is consistent with CPC’s approach and is a fundamental principle of Satori’s founding philosophy of conscious capitalism. This business combination ensures that Muralo’s multi-generation customers will continue to have access to the products they cherish and to receive outstanding customer service.
Jim Norton, formerly Muralo’s president and chief executive officer who has joined the CPC team, said, “I am pleased to be joining an organization whose commitment to quality, service, and customers mirrors my 40-plus years in business. I look forward to the continued support of our existing customer base and the longevity of the Muralo legacy.”