March 1, 2022 – Blue River Financial Group has advised Painters Supply & Equipment Co. (PSE), a leading value-added distributor of paint, coatings, and related supplies and equipment, and portfolio company of Odyssey Investment Partners, on the recent acquisition of Specialty Coatings, Inc. (SCI). This is the 7th acquisition that Blue River has advised PSE on, since the beginning of the advisory engagement. PSE has continued to diversify its offerings in automotive refinish and specialty coatings, as well as related equipment and supplies.  The partnership with SCI represents a great opportunity for PSE to continue growth in the specialty coatings segment; and for SCI, an opportunity to partner for growth with an industry-leading organization.

Founded in 1952, Painters Supply and Equipment Company primarily serves customers in the automotive, architectural, specialty, and industrial coatings and supplies industries. Headquartered in Taylor, Michigan, PSE has grown to 52 branch locations and three distribution centers across Michigan, Georgia, Illinois, Indiana, Maryland, Missouri, North Carolina, Ohio, Pennsylvania, and Virginia.

Specialty Coatings Inc. distributes paints, coatings, and supplies for industrial, automotive refinish, marine, architectural, and military applications. Their products are designed for application by professional, trained personnel and are not intended for sale to the general public. SCI services the Industrial, Automotive Refinish, Military, Aerospace, and Defense sectors.

“It has been a real pleasure working with the founder of SCI throughout this process. It was clear from the beginning of our dialogue that SCI and PSE had the strategic and cultural fit to make this partnership a true win-win.  We are thrilled to see the success ahead for everyone involved” stated Sara Clevenger, Principal of Blue River.

“SCI is a strong Distributor with a solid reputation of providing industry-leading products and value-added services to various specialty coatings end-users.  The addition of the SCI team reinforces our continued commitment to aggressively grow our specialty coatings business,” said Patrick Mayette, president & CEO of PSE.


Sara Clevenger

About Blue River

Blue River Financial Group is a middle market merger and acquisition advisory firm headquartered in Bloomfield Hills, Michigan. It assists corporations, private equity groups and individuals in the sale and acquisition of businesses, and has completed assignments in multiple business segments. With over 20 years of experience spanning across 50 global industries, Blue River provides a suite of services to middle market clients including corporate development, private equity support, valuations and transaction consulting, placing a premium on relationship-centered transaction counsel and client focus.

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