TMI Coatings Gains Boost from Northstar Capital Investment
Deal News | Jul 15, 2025 | Northstar Capital LLC/MN
Northstar Capital, a provider of junior capital for middle market private equity transactions, announced its strategic investment in TMI Coatings, a portfolio company of PCM Companies. TMI Coatings, founded in 1985 and headquartered in Eagan, Minnesota, specializes in specialty painting, coating, and restoration services focusing on America’s industrial and public infrastructure. This investment represents the thirteenth platform investment in Northstar Mezzanine Partners VIII L.P. PCM Companies, founded in 1998, is a private investment firm based in the Twin Cities, adept at nurturing businesses that are pivotal to the U.S. economy. Northstar’s involvement, through debt and equity co-investment, aims to bolster TMI’s growth and reinforce its reputation for quality and safety standards, as it provides services to Fortune 1000 companies and government entities. Northstar Capital has invested in a broader range of industries including industrials, healthcare, and consumer goods, marking its continual commitment to middle-market companies.
Sectors
- Private Equity
- Construction & Infrastructure
- Investment Management
Geography
- United States – The companies involved, Northstar Capital, TMI Coatings, and PCM Companies, are based in the United States, with a focus on U.S. infrastructure.
- Minnesota – Northstar Capital and TMI Coatings are headquartered in Minnesota, making it central to the regional investment and business operations.
Industry
- Private Equity – Northstar Capital's role as an investor in TMI Coatings highlights the private equity industry with its focus on middle-market transactions.
- Construction & Infrastructure – TMI Coatings’ work in maintaining and restoring infrastructure places it within the construction and infrastructure industry.
- Investment Management – PCM Companies' involvement as an investment firm engaged in strategic business growth underscores the investment management sector.
Financials
- Not disclosed – The exact amount of the investment in TMI Coatings by Northstar Capital is not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Northstar Capital | Investor | Company | An investment management company providing junior capital and equity co-investments. |
| TMI Coatings | Target Company | Company | A specialty contractor focusing on industrial and public infrastructure restoration. |
| PCM Companies | Vendor/Seller | Company | A private investment firm based in the Twin Cities, focused on backing middle-market companies. |