Spencer Coatings announces acquisition of Stokes Paints

UK coatings manufacturer Spencer Coatings has acquired Stokes Paints in a deal worth £5m.

Spencer Coatings — now employing more than 100 people — will have a turnover of more than £16m per annum following the acquisition.

The Aberdeen-based company will maintain its corporate headquarters in Granite City, which is also home to its Scotland and North Sea sales and technical services departments.

Spencer Coatings is investing in a new distribution centre in Aberdeen, which will carry out colour finishing and will stock products for customers in Scotland, including those operating in the North Sea oil and gas sector.

It also plans to establish a technical centre, also in Aberdeen, to continue to develop products for its customers across Scotland and off shore.