Dunn-Edwards Corporation (“Dunn”), headquartered in Los Angeles, California, is a leading manufacturer and distributor of high-quality paint in California, Arizona, and Nevada. Dunn supplies approximately 400 products, with nearly 80% of revenue generated from sales of company-manufactured interior and exterior architectural (i.e. residential and commercial property) paints and coatings. The balance of Dunn’s sales is comprised of equipment and other paint sundries (sprayers, rollers, brushes, drop cloths, etc.) as well as other wall-covering materials.
Merit provided subordinated debt to finance the recapitalization of Dunn by management and a newly-formed ESOP.