Graphite considered U-POL’s long-term potential as sufficiently attractive to back a management buy-out not once, but twice.

U-POL is a global leader in the manufacture and distribution of automotive refinishing products. The company sells a broad range of high quality branded products, including fillers and coatings, in more than 110 countries across all continents.

In 2002 Graphite backed a management buy-out from the company’s founders. In the following three years, we assisted the team in professionalising the business across a number of areas and in expanding the product range into additional coatings and aerosols. During this time, the business also successfully entered several emerging market territories and increased its presence in the USA. In 2005 Graphite sold U-POL, generating a substantial return on its initial investment.

When the opportunity to re-acquire U-POL arose in 2010, we concluded that the company’s long-term potential was undiminished. The CEO originally backed by Graphite had become a non-executive director and had been replaced by a highly motivated and talented individual with strong ambition to continue to grow the business.

Our familiarity with the company and clear strategic vision put us in a strong position to back the team in another buy-out. In this new phase of ownership, we will pursue further product and geographical opportunities, in particular in China and other fast-growing emerging markets.

Graphite’s track record, operating style and familiarity with our business made them our first choice.

Phil May, CEO, U-POL