Granite Creek, Columbia Basin acquire Western US coatings provider Matheson
What's the deal? Granite Creek Capital PartnersDealroom has a profile for this one. Try Dealroom → and Columbia Basin Partners have acquired Matheson Industrial, a provider of industrial coating and surface treatment services across the Western US. Terms were not disclosed.
Who's involved? Granite Creek is a Chicago-based private investment firm founded in 2005; Columbia Basin, based in Ketchum, Idaho, was founded in 2010. Matheson comprises two divisions, Matheson Painting (MPI) and Extreme Coatings (ECI)Dealroom has a profile for this one. Try Dealroom →, serving industrial and municipal customers.
What's the endgame? The buyers plan to back Matheson's growth while keeping its core work intact. "We look forward to supporting MPI by building on that strong foundation," said Peter Lehman, co-founder and partner at Granite Creek.
Why now? The deal builds on a long-standing relationship between the two firms. "In addition to a nearly 15-year relationship with Granite Creek, the firm's prior experience with service-driven, infrastructure-focused businesses made them the right partner for this transaction," said Brady Dolsen, principal at Columbia Basin Partners.
Matheson's services support the maintenance and protection of critical infrastructure operating in demanding, regulated environments.
The signal: The acquisition fits a continuing pattern of sponsor capital backing industrial distributors and service providers. A September 2026 sector review counted 75 distribution deals in the second quarter, down from 97 a year earlier, with industrial and building-products businesses holding up relatively well and private-equity activity centred on add-ons.
Read more: Business Insider
Image credit: Generated with Gemini
