BEST Engineered Surface Technologies, LLC: Company Profile

Background

Company Overview

BEST Engineered Surface Technologies, LLC is a specialized firm focused on advancing the performance characteristics of parts and components through innovative coating and finishing technologies. Established in 2017, the company has rapidly expanded its portfolio by acquiring diverse surface technology companies, thereby enhancing its capabilities across various industries.

Mission and Vision

BEST's mission is to be an early adopter of coating and finishing technologies, capturing innovative solutions and adapting them to meet specific customer needs. This approach aims to resolve design and material challenges, thereby advancing the performance of customer products. The company's vision is to integrate multiple geographically dispersed coating and finishing companies, creating a comprehensive service provider capable of delivering world-class technological solutions to OEMs and tier 1 suppliers.

Primary Area of Focus

The company specializes in surface treatment services, including coating and finishing, to enhance the durability, functionality, and aesthetics of various products. By acquiring companies with unique or diverse processing technologies, BEST aims to offer adaptable solutions that address specific customer requirements.

Industry Significance

Operating within the surface treatment industry, BEST addresses the fragmented nature of the market by consolidating multiple companies. This strategy enables the company to provide a broad range of services and technologies, positioning itself as a leader in the coating and finishing segment.

Key Strategic Focus

Core Objectives

Innovation Adoption: Emphasizing the early adoption of cutting-edge coating and finishing technologies to meet evolving customer needs.

Market Expansion: Broadening the company's reach by integrating diverse surface technology companies across various industries.

Comprehensive Solutions: Offering total solutions to OEMs and tier 1 suppliers by combining multiple service offerings under one umbrella.

Specific Areas of Specialization

Coating and Finishing Services: Providing a wide array of surface treatment services to enhance product performance.

Acquisitions: Strategically acquiring companies with unique or diverse processing technologies to expand capabilities.

Key Technologies Utilized

High-Performance Coatings: Implementing advanced coatings such as PVDF polyvinylidene fluoride for enhanced durability.

Surface Treatment Innovations: Adopting innovative surface treatment technologies to address specific customer challenges.

Primary Markets Targeted

Aerospace: Enhancing components for the aerospace industry.

Defense: Providing surface treatment solutions for defense applications.

Medical: Offering specialized coatings for medical devices.

Semiconductor: Addressing surface treatment needs in the semiconductor sector.

Power Generation: Supplying coating solutions for power generation equipment.

General Industrial: Serving various industrial sectors with tailored surface treatment services.

Financials and Funding

Funding History

Specific details regarding the total funds raised and recent funding rounds for BEST Engineered Surface Technologies are not publicly disclosed. The company's growth has been primarily driven by strategic acquisitions, such as the purchase of Windsor Metal Finishing in June 2017, which expanded its capabilities in high-performance coatings.

Notable Investors

The company is owned by Sowell & Co., a Dallas-based family office, which has been instrumental in its expansion and acquisition strategy.

Utilization of Capital

Capital has been utilized to acquire companies with unique or diverse processing technologies, integrate these acquisitions into the company's operations, and expand its service offerings across various industries.

Pipeline Development

Key Pipeline Candidates

BEST Engineered Surface Technologies has focused on acquiring companies that offer unique or diverse coating and finishing technologies. Notable acquisitions include:

Windsor Metal Finishing: Acquired on June 1, 2017, Windsor specializes in high-performance PVDF polyvinylidene fluoride coatings, particularly for the architectural industry.

HPS (High Performance Systems): Acquired on August 1, 2017, HPS provided operating equipment and technologies, enhancing BEST's capabilities in coating applications.

Teknicote and Medicote: Acquired on December 31, 2019, these businesses expanded BEST's portfolio in coating and finishing services.

Stages of Development

The company is in the integration phase, assimilating these acquisitions to enhance its technological capabilities and service offerings.

Target Conditions

The acquisitions aim to address specific customer needs across various industries, including aerospace, defense, medical, semiconductor, power generation, and general industrial sectors.

Anticipated Milestones

The successful integration of these acquisitions is expected to lead to expanded market presence, enhanced service capabilities, and increased customer satisfaction.

Technological Platform and Innovation

Proprietary Technologies

DIAMONDSHIELD® Coating: A patented water-clear coating for plastics, offering unmatched wear resistance and optical clarity.

Significant Scientific Methods

Plasma-Enhanced Chemical Vapor Deposition (PECVD): A process used to deposit thin films, such as diamond-like carbon, from a gas vapor solid state onto a substrate.

Physical Vapor Deposition (PVD): A coating process that improves the appearance, durability, and functionality of products, widely used in various industrial applications.

Leadership Team

Key Executives

Will Schramme: Chairman of the Board. With over 20 years of experience in private equity and corporate finance, Mr. Schramme focuses on partnering with operators to build world-class companies across multiple industries. He is also the Chairman of Ace Aeronautics and Savantis Solutions.

David Clark: Vice President and President.

William Faucett: President.

Will Schramme: Chief.

Rebekah Thomas: Chief Financial Officer.

Competitor Profile

Market Insights and Dynamics

The surface treatment industry is characterized by fragmentation, with numerous privately held family businesses and small corporate entities offering one or two processes into specific markets. BEST Engineered Surface Technologies aims to consolidate this fragmented market by acquiring multiple coating and finishing companies, thereby providing a comprehensive range of services and technologies.

Competitor Analysis

Key competitors in the surface treatment industry include:

Surface Technology, Inc. (STI): A leader in electroless nickel plating and composite diamond coatings, serving various industries with advanced surface treatment solutions.

Surface Engineering Technologies LLC: Specializes in advanced plasma surface treatments and PVD coatings for a wide range of materials, offering research and development engineering solutions to enhance performance and reduce costs.

Strategic Collaborations and Partnerships

BEST Engineered Surface Technologies has not publicly disclosed specific strategic collaborations or partnerships beyond its acquisitions.

Operational Insights

By acquiring and integrating multiple coating and finishing companies, BEST aims to provide a comprehensive suite of services, positioning itself as a total solution provider for OEMs and tier 1 suppliers. This strategy enhances its market position and competitive advantage.

Strategic Opportunities and Future Directions

The company's strategic roadmap includes further acquisitions to expand its technological capabilities and market reach. By integrating diverse surface technology companies, BEST aims to offer adaptable solutions that address specific customer needs, thereby strengthening its position in the coating and finishing industry.