The story
Liquitex was developed by the Permanent Pigments Company, established in 1933 by Henry Levison. Permanent Pigments was a small, family-owned business located in Cincinnati that focused on developing oil paint.
In 1950, Henry Levison, along with other professionals in the art materials industry, established the National Art Materials Trade Association, now known as the International Art Materials Trade Association. It was the first trade organization in the world that focused on promoting and sustaining the manufacture, distribution, sales, and training in the use of art materials.
In 1955, Levison developed a quick-drying, water-emulsified acrylic polymer resin. In selecting a name for the new product, Levison chose "Liquitex" as a portmanteau of "liquid" and "texture". The name was based on the character of the medium, which was a liquid base, quick drying and easily used to create texture in artwork.
In 1964, Binney & Smith acquired the Liquitex brand, eventually selling it in 2000 to its present owner, Colart.
Liquitex's first cadmium-free pigments debuted in 2017, in response to growing environmental and health concerns regarding the heavy metals found in oil, acrylic, and watercolor paints.
From Wikipedia’s article on Liquitex, shared under CC BY-SA 4.0.4