Precision in Motion: Partnering with a Global Leader in Refinish Equipment

Walled Lake, Michigan – October 10, 2016 – Ashland Capital Partners, with complementary financing from Graycliff Partners, acquired Dedoes Industries, a leading manufacturer of paint-mixing and blending equipment for the global automotive refinish market. Dedoes is known for its high-quality mixing machines, storage systems, and shakers, and has long-standing relationships with major paint brands worldwide.

Ashland was attracted to Dedoes for its specialized niche, consistent recurring demand, and the ability to generate strong, predictable cash flow. The company’s leadership position and operational consistency aligned well with Ashland’s strategy of investing in capital-efficient platforms in lower middle market industrials. Following the acquisition, Byline Bank’s Sponsor Finance Group expanded the company’s credit facility in September 2017—a strong signal of financial performance and confidence in the partnership’s trajectory.

Under Ashland’s ownership, Dedoes has continued to expand capacity and improve operational efficiency. The partnership has enabled increased investment in working capital and infrastructure, reinforcing Dedoes as a reliable cornerstone of Ashland’s industrial portfolio and exemplifying long-term value creation in a focused manufacturing niche.