EAST BERLIN, CT (September 9, 2026) – Glen Oaks Capital (“Glen Oaks”) and Tecum Capital (“Tecum”) today announced the acquisition of StanChem Resins and Dux Coatings, creating a new specialty chemicals platform (“StanChem” or the “Company”) producing water-based emulsion polymers and solvent-based protective coatings. Glen Oaks acted as lead sponsor, with Tecum providing growth capital in the form of both subordinated debt and equity to support the partnership and to fund the Company’s expansion plans. First Commonwealth Bank provided senior debt financing. The businesses were acquired simultaneously in a carve-out transaction and will continue to be run by the existing senior management team, which is investing alongside Glen Oaks and Tecum. Terms of the transaction were not disclosed.
Headquartered in East Berlin, Connecticut, the Company develops and manufactures high-performance resins and specialty coatings through two complementary divisions. StanChem Resins formulates and manufactures acrylic, vinyl-acrylic, and styrene-acrylic emulsion polymers sold into architectural and industrial coatings, adhesives and sealants, nonwovens, and other specialty applications. Dux Coatings, based in Lodi, New Jersey, manufactures two-component urethane and epoxy coatings. Dux Coatings serves a broad market segment including tub and tile refinishing, automotive, woodworking, artistic, and general industrial end markets, marketing more than 1,000 SKUs to over 2,000 customers.
“StanChem Resins and Dux Coatings have spent more than fifty years building partnerships with our customers who incorporate our chemistry into their own formulations and applications,” said Steve McKeown, Chief Executive Officer. “This new partnership with Glen Oaks and Tecum gives us the ability to further expand our capabilities to serve our customers even better.”
John Powers, Managing Member of Glen Oaks Capital, added: “We are backing a management team and employee base that customers have trusted for decades, and that is the foundation of this investment. Our role is to support this team and the new platform with the capital and resources needed to pursue new growth opportunities.”
Stephen Gurgovits, Jr., Managing Partner of Tecum, stated: “Steve McKeown and his team have built a durable, well-run specialty chemicals business. Management is investing alongside us in the next phase of growth, and our capital will support the Company’s continued investment in capacity, people, and product development. We are pleased to partner with Glen Oaks and the management team on this transaction.”
The deal team from Tecum included Matt Harnett, Paul Oris, and Josh Savacool. Stevens & Lee served as legal counsel to Tecum, and Ice Miller served as legal counsel to Glen Oaks. Houlihan Lokey served as exclusive financial advisor to StanChem on the transaction.
ABOUT STANCHEM
Headquartered in East Berlin, Connecticut, StanChem is a specialty chemicals platform that develops and manufactures high-performance resins and specialty coatings. StanChem Resins produces water-based acrylic, vinyl-acrylic, and styrene-acrylic emulsion polymers for architectural and industrial coatings, adhesives and sealants, nonwovens, and other specialty applications. Dux Coatings, based in Lodi, New Jersey, manufactures two-component urethane and epoxy coatings serving more than 2,000 customers across tub and tile refinishing, automotive refinish, woodworking, artistic and general industrial applications. For more information, please visit www.stanchem-inc.com and www.duxpaint.com.
ABOUT GLEN OAKS CAPITAL
Glen Oaks Capital is a Rye, New York-based private equity firm focused on investing in small to mid-sized businesses. Glen Oaks partners with management teams and business owners to build long-term value through growth capital, strategic guidance, and M&A expertise, with a particular focus on niche manufacturing, environmental services, and value-added distribution. As an independent sponsor, Glen Oaks structures each investment as a unique partnership between management teams and investors, with an emphasis on aligning interests and supporting the long-term growth of its portfolio companies.
ABOUT TECUM CAPITAL
Tecum Capital is a Pittsburgh, Pennsylvania-based private investment firm deploying capital in lower middle-market companies. Tecum provides mezzanine debt and equity investments in growth-oriented middle-market companies across the broader environmental/industrial services, high-value manufacturing, value-added distribution, and business services sectors. Our team partners with independent sponsors, family offices, committed funds, business owners seeking succession plans, and management teams to create shared success. Tecum manages three Small Business Investment Company (“SBIC Funds”) licensed funds and is currently investing out of Tecum Capital Partners IV, L.P, a $415 million SBIC fund launched in February 2025. Since 2006, the team has collectively invested more than $1.2 billion in over 200 platforms and add-on acquisitions. For more information, please visit www.tecum.com.