20-20 Ventures Acquires Damon Industries, Continuing an 87-Year Legacy of Local Stewardship in Alliance

FOR IMMEDIATE RELEASE

Community-based operating company commits to long-term investment in people, customers, and Stark County jobs

ALLIANCE, OH — July 29, 2026 — 20-20 Ventures, a community-based operating company, today announced the acquisition of Damon Industries, a long-standing specialty chemical manufacturing company headquartered in Alliance, Ohio. The transaction closed effective April 7, 2026. Founded in 1938, Damon Industries has served customers across the region for 88 years, and the deal marks the next chapter for a business that has been family-owned and operated since its founding. Financial terms of the transaction were not disclosed.

Damon Industries was sold by Amy Damon, whose family has owned the business since its founding in 1938. Scott Butterfield, who has served as President of Damon Industries, has led the company’s day-to-day operations and worked closely with 20-20 Ventures to ensure a smooth transition. The Damon Industries team will remain in place, and day-to-day operations will continue without interruption.

20-20 Ventures partners with strong, values-driven businesses for the long term. Unlike traditional private equity, the firm invests its own capital — what it calls impact capital — with a focus on keeping businesses, jobs, and ownership rooted in the communities they serve.

“Damon Industries is exactly the kind of company we built 20-20 Ventures to support,” said Colin Neidert, Managing Partner of 20-20 Ventures. “It’s a business with a great team, a trusted name, and deep roots in Alliance. Our job is to steward what the Damon family has built since 1938 — to protect what’s working, learn from the people who know the business best, and invest thoughtfully for the long haul. We believe the best days of Damon Industries are still ahead.”

“We’re not here to flip this company or chase a quick return,” said Erik Klein, Managing Partner of 20-20 Ventures. “We’re here to operate it, grow it responsibly, and make sure these jobs stay in Alliance and in Stark County. Great businesses are built by great people, and Damon has that. We’re honored to carry the legacy forward.”

20-20 Ventures has committed to a period of listening and learning in the coming months, working alongside the Damon Industries team to understand the business before pursuing growth opportunities. The firm emphasized that no immediate operational changes are planned.

“Amy and Scott made it clear from the very beginning that the people at Damon are what make this company special,” Neidert added. “That’s a standard we intend to live up to.”

Damon Industries will continue to operate under the Damon name from its longtime headquarters in Alliance, Ohio.

About Damon Industries

Damon Industries is a specialty chemical manufacturer providing innovative cleaning and sanitation solutions. From its plant in Alliance, Ohio, the company manufactures more than 300 chemical specialties — cleaners, degreasers, disinfectants, floor finishes, laundry products, water treatment, and fuel tank coatings, including its flagship Red-Kote fuel tank liner — serving industrial, institutional, food processing, healthcare, education, and automotive-repair customers across the United States and internationally. For 87 years, the company has built a reputation for innovative, custom-formulated products, rigorous in-house quality control, and long-standing customer relationships throughout the region.

About 20-20 Ventures

20-20 Ventures is a community-based operating company that acquires and operates strong businesses for the long term. A professing faith-based business, the firm is guided by Christian values in how it invests, operates, and cares for the people and communities it serves. Founded on the belief that local businesses and local jobs should stay in local hands, the firm invests its own capital — impact capital — and focuses on building lasting value for employees, customers, and the communities it serves. 20-20 Ventures is led by Managing Partners Erik Klein and Colin Neidert.