PlusCoat sold to DOT

Transaction

Sell-side

Undisclosed

Role

Adviser to PlusCoat on its sale to DOT A/S backed by Kirk Kapital

Sector

Industrial & Chemicals

Region

Denmark

We have advised PlusCoat, a leading surface treatment service provider, on its sale to DOT A/S (DOT), a Nordic platform in the surface treatment industry, owned by investment firm Kirk Kapital.

PlusCoat is a one-stop shop for industrial surface treatment across its three local facilities on Funen located in Ejby, Faaborg, and Svendborg. The company is Denmark’s exclusive supplier of E-coating and also offers wet coating, powder coating, and other industrial surface treatments for steel products.

DOT has built a market-leading position through a successful buy-and-build strategy and now operates 10 facilities in Denmark, Sweden, and Norway. It offers a comprehensive range of surface treatment solutions, including galvanising, powder coating, wet painting, and metallisation. The group is recognised for its excellent quality, efficient logistics with short lead times, and technical know-how in providing advice to its customers.

Kirk Kapital is an investment company owned by the Kirk Johansen family, descendants of LEGO Group founder Ole Kirk Christiansen. The company manages more than €3.5bn in assets under management and focuses on strategic and financial investments.

Following the transaction, PlusCoat will be rebranded to DOT Colors and will serve as the new painting platform within the group. DOT’s existing painting facility, DOT Steel Coating in Stilling, will be integrated into this platform. All previous owners will continue in key leadership roles under the new structure.

We are very pleased with the new partnership we now have entered into with DOT, and we have reached a good framework that we are sure will lead the way for strong development. It is the first time we have gone through a sales process, and it has been crucial to have such a competent and pleasant team as Clearwater, with whom we have had good sparring and a close dialogue throughout all phases of the process.
Marcello La Pia, Co-owner, PlusCoat

It was an exciting process to support PlusCoat through the sale to DOT. In a highly fragmented industry, we are confident that Plus-Coat, now part of the new DOT Colors, will serve as a fantastic platform for further roll-up of industrial coating companies in Scandinavia. We have valued the close collaboration with both the seller and the buyer, and we are convinced that there is a strong personal and business-wise fit that will ensure a successful future. We look forward to following their growth journey and new ventures.
Jesper Agerholm, Partner, Clearwater