Hopewell Ventures, a $110 million Midwest-focused venture capital fund, has closed on its lead investment in Helios Coatings Inc.'s $4 million preferred equity financing. Helios Coatings is a Canton, OH-based provider of OEM-approved metallic coatings for the automotive industry. The company produces and markets the Metallight™ coating system, a durable, environmentally friendly replacement for chrome plating on aluminum alloy wheels and other auto parts. Helios will use funding from the Hopewell Ventures-led financing to expand production and distribution. Also investing as part of the financing group was G.C. Andersen Partners LLC of New York City.

"Metallight gives auto manufacturers and aftermarket suppliers the opportunity to seamlessly incorporate chrome-like finishes into their designs without the environmental and health issues associated with hexavalent chromium plating," said Tom Parkinson, Hopewell Ventures partner. "This process has consistently passed the automakers' most rigorous safety and durability testing. Helios is in a great position to build its capacity and market share to satisfy the increased demand."

For more information, visit www.helioscoatingsinc.com. More details about the technology also can be found in "Holistic Wheel Coating Wizardry," July 2006 Finishing Today.