Case Studies

Quality Powder Coatings: A Confidential Sale to an Experienced Corporate Buyer

Written by Doreen Morgan | Aug 21, 2026, 3:56:01 PM
Transaction Snapshot

Quality Powder Coatings

Sell-Side Advisory  |  Industrial Powder Coating & Metal Finishing  |  Lilburn, Georgia

Client
Quality Powder Coatings, Inc.
Headquarters
Lilburn, Georgia
Dealmaker
Doreen Morgan
Announced
June 2019
20
Qualified Buyers
2
Letters of Intent
9 Months
Launch to Close
Asset Sale
Including Company Real Estate
Buyer
Ripio Coatings, LLC
Led by Marc Martinez, an individual buyer with a corporate operating background
 
The Company

More Than Two Decades of Reputation-Driven Growth

George Osentoski founded Quality Powder Coatings in 1995, opening the company from a 3,000-square-foot facility in Lilburn, Georgia. Five years later, he purchased the land and building across the street and moved the business into the larger footprint that would support its growth for the next two decades.

The business developed steadily around a straightforward formula: consistent, high-quality industrial coating work delivered project after project.

Business Highlights
15,000 Sq. Ft.
Facility footprint
9 Employees
Lean operating team
<15%
Revenue from any single customer
10+ Years
Tenure of three top-five customer relationships

Quality Powder Coatings served a diversified commercial customer base that included sheet metal fabricators, architectural metal shops, automotive companies, lighting businesses, and tradeshow and exhibit customers.

The company built that base almost entirely through word of mouth, spending little on formal advertising while earning repeat business through reliability and consistent quality.

The Seller's Objective

Retirement After 24 Years at the Helm

After more than two decades building Quality Powder Coatings into an established Atlanta-area industrial coatings provider, George Osentoski was ready to retire to Florida.

His objective was a smooth ownership transition that would protect the company's employees, customer relationships, operating reputation, and long-standing goodwill.

 
The Process

Creating Competition While Protecting the Business

Sunbelt Atlanta, led by Dealmaker Doreen Morgan, built a targeted buyer universe and ran a confidential process designed to protect Quality Powder Coatings' employees, customers, and market position.

The process engaged 20 qualified buyers and generated two competing letters of intent, giving ownership a genuine choice between interested parties.

From launch to close, the transaction was completed in nine months, including the sale of the company's real estate.

The broader outreach helped surface buyers who may not otherwise have discovered the opportunity, while maintaining confidentiality throughout the sale process.

01

Selecting the Right Partner

George Osentoski selected Marc Martinez and Ripio Coatings, LLC based on Martinez's corporate operating background, track record of success, ability to relate to large commercial customers, and strong cultural fit with the company's established team.

02

The Buyer's Perspective

For Marc Martinez, the acquisition represented a deliberate transition from corporate leadership into business ownership, with an opportunity to apply his operating experience to an established industrial company.

Why the Business Stood Out

Durable Fundamentals Buyers Could Understand

01
Customer Diversification
No customer represented more than 15% of total revenue.
02
Long-Term Relationships
Several top customers had worked with the business for a decade or more.
03
Referral-Driven Growth
The company grew largely through reputation and customer referrals.
04
Identifiable Capacity Upside
Extended hours or a second shift offered a clear path to additional production.
 
Market Context

Industry Tailwinds Behind the Deal

Quality Powder Coatings operated in a fragmented Atlanta-area market made up largely of small independent shops, with only a limited number of providers equipped to handle larger commercial batch work.

Fragmented
Local powder coating market
Capacity Limited
Many qualified competitors were already operating near full capacity
Second Shift
Identified production growth opportunity

That combination of a strong reputation, constrained commercial-grade capacity, diversified B2B demand, and an identifiable route to higher production created a straightforward growth thesis for prospective buyers.

Lessons for Sellers

Key Takeaways for Business Owners Considering a Sale

01. Reputation built over decades is a real asset.
More than two decades of consistent, referral-driven growth gave buyers confidence in the durability of the business.
 
02. A diversified customer base strengthens a sale.
Low customer concentration and long-standing relationships helped demonstrate the stability of the company's revenue base.
 
03. Capacity constraints can support a compelling growth story.
Buyers could see a practical route to higher production by extending operating hours or adding another shift.
 
04. Corporate operators can be strong buyers.
Experienced executives looking to transition into business ownership can be an excellent fit for founder-led industrial companies.
Planning Your Exit?

Thinking About Selling Your Industrial Manufacturing, Powder Coating, or Metal Finishing Company?

Quality Powder Coatings' story shows how a reputation-driven industrial business can attract qualified buyers when its customer base, operating strengths, growth opportunities, and transition story are presented clearly. Sunbelt Atlanta runs confidential sale processes for owners of privately held businesses with no upfront fees.

Get a Business Valuation Talk With a Dealmaker
About Sunbelt Atlanta

Experienced Guidance From Valuation Through Closing

Since 1998, Sunbelt Atlanta has helped business owners across Georgia and the Southeast sell their companies confidentially and on their own terms. With more than 1,250 businesses sold, a no-upfront-fee, success-driven approach, and experience across industries including powder coating and metal finishing, Sunbelt Atlanta's team of Dealmakers guides owners through every stage of a sale.