Chase Corporation Announces Completion Of Acquisition By KKR And Welcomes Lance Reisman As Chairman Of The Board Of Directors

NEW YORK & WESTWOOD, Mass.–(BUSINESS WIRE)–Chase Corporation (“Chase” or the “Company”), a leading global manufacturer of protective materials for high-reliability applications across diverse market sectors, today announced the successful completion of its acquisition by affiliates of KKR, a leading global investment firm, for $127.50 per share. As a result of the completion of the transaction, Chase common stock has ceased trading and will no longer be listed on the NYSE American.

“Today represents an important milestone for Chase in our journey to better serve our customers through strategic growth and innovation,” said Adam Chase, President and Chief Executive Officer of Chase. “From the beginning, KKR was a strong cultural fit for us, and their commitment to employee engagement coupled with an exceptional track record in the materials science space makes them ideal for this new chapter in our history.”

Adam joined Chase in 1998, and has successfully managed Chase as Chief Executive Officer since 2015. Prior to this role, Adam was the Chief Operating Officer.
In conjunction with the transaction close, Lance Reisman will assume the role of Chairman of the Board of Directors of Chase.
“I am thrilled to be joining the Board of Chase as Chair and look forward to working with Adam and his talented team to achieve a new phase of growth and innovation,” said Mr. Reisman. “Chase has built an impressive portfolio of leading technologies, and I look forward to supporting the Company in building upon this foundation to drive future growth, both organically and through acquisitions.”
Lance is an Executive Advisor to KKR and currently serves as a member of the Board of Directors at Flow Control Group and as Chairman of the Board at GeoStabilization International and Industrial Physics. Lance previously worked at Danaher, most recently as Group Executive and Vice President responsible for Danaher’s Water Quality Platform. In this role, Lance led holistic operational and commercial transformations and executed a number of strategic acquisitions.
KKR will also support Chase in implementing a broad-based employee ownership program to allow all of its employees to have the opportunity to participate in the benefits of ownership of the Company. This strategy is based on the belief that employee engagement and a strong ownership culture are key drivers in building stronger companies. Since 2011, KKR portfolio companies have awarded billions of dollars of total equity value to over 60,000 non-senior management employees across more than 35 portfolio companies.
About Chase Corporation
Chase Corporation, a global specialty chemicals company that was founded in 1946, is a leading manufacturer of protective materials for high-reliability applications throughout the world. More information can be found on our website
About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at
Media Contacts:

For Chase Corporation

Investor & Media Contact:
Jackie Marcus or Ashley Gruenberg
Alpha IR Group
Phone: (617) 466-9257

Shareholder & Investor Relations Department:
Phone: (781) 332-0700

Liidia Liuksila or Miles Radcliffe-Trenner
(212) 750-8300

Categories: News


Bain Capital Private Equity to acquire Porus Labs


Bain Capital Private Equity to acquire Porus Labs

Funding to drive expanded presence in specialty chemicals sector

MUMBAI – June 8, 2023 – Bain Capital Private Equity (“Bain Capital”), a leading global private investment firm, today announced the acquisition of Porus Labs, a leading manufacturer of agricultural and speciality chemicals. Bain Capital’s resources and industry experience will enable Porus Labs to unlock significant growth through investments in talent, business development, capacity expansion, process engineering and developing or acquiring distinctive chemical capabilities. Financial terms of the private transaction were not disclosed.

Founded in 1994 in Hyderabad, Porus Labs brings significant specialized knowledge in segments such as speciality polymers, electronic chemicals and agrochemicals. The company’s continuous efforts to increase capabilities through investments in research & development, process improvement and business development capabilities have resulted in robust organic growth and positioned it as a trusted partner of global customers in the industry.

“We are very excited to build a platform in the specialty chemicals contract development and manufacturing space, leveraging Porus Labs’ expertise and strong market position. We have high conviction in the industry’s growth prospects and see immense potential for expanding the company’s market by building or acquiring differentiated chemical capabilities in key sectors,” said Rishi Mandawat, a Partner at Bain Capital Private Equity.

“Porus Labs has been a trusted partner to large global customers for nearly three decades. Our customer-centric approach and chemistry capabilities have helped us gain strategic importance amongst our customers. We enjoyed interacting with the Bain Capital team over the last few months and are pleased to entrust Bain Capital to take Porus Labs on to its next stage of growth. We are confident in our ability to unlock the full potential of our market-leading position through this transformative partnership with Bain Capital by leveraging their extensive industry expertise and global network.” said Srinivasan Namala, CEO at Porus Labs.

The transaction is subject to receipt of necessary approvals from all relevant authorities.

About Bain Capital Private Equity:

Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity’s global team of more than 280 investment professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications. Bain Capital has 23 offices on four continents. Since its inception, the firm has made primary or add-on investments in more than 1,150 companies. In addition to private equity, Bain Capital invests across multiple asset classes, including credit, public equity, venture capital and real estate, managing approximately $165 billion in total assets and leveraging the firm’s shared platform to capture opportunities in strategic areas of focus.

For more information, please visit:

Categories: News


Advent International and Wilbur-Ellis announce the merger of their life sciences and specialty chemicals solutions businesses to form a leading global value-add distribution platform with unique positions in high-growth regions and combined sales of around EUR 3 billion

Advent International
  • Advent International and Wilbur-Ellis to merge Caldic and Connell, their life sciences and specialty chemicals solutions businesses focused on nutrition, pharma and industrial formulations
  • The combination creates a leading global platform with a substantial presence in two high-growth regions: in Asia-Pacific with Connell and in Latin America with Caldic-GTM
  • Extending their global reach, Caldic and Connell joining forces will accelerate growth opportunities for principals and customers by leveraging best-in-class labs, deep application know-how and global presence of the combined group

Rotterdam, 14 October, 2022/San Francisco, October 13, 2022 – Advent International (“Advent”), one of the largest and most experienced global private equity investors with a well-established track record in chemicals, and Wilbur-Ellis, one of the largest family-owned companies in the world, today announced that they have reached an agreement to merge their life sciences and specialty chemicals solutions businesses, Caldic B.V. (“Caldic”) and Connell, to create a global leader in its sector.

Caldic, a global provider of specialty ingredients and chemicals for the life sciences and industrial formulation markets with a major presence in Europe, North America and Latin America, will benefit by increasing its global presence through a merger with Connell, which is one of the major players in Asia-Pacific.

Under the ownership of Advent and Wilbur-Ellis, the combined company will benefit from two strong shareholders committed to build a leading global platform offering thorough expertise in specialty ingredients and chemicals solutions and distribution in two high-growth regions: in Asia-Pacific with Connell and in Latin America with Caldic-GTM, following Caldic’s merger with GTM in March 2022. By extending Caldic and Connell’s global footprint, the merger will accelerate growth opportunities for both principals and customers and drive further investments into people, technical labs, and sites. Together, Caldic and Connell will have more than 3,800 employees across 43 countries, which provide solutions to over 35,000 customers by leveraging 75 formulation centers and application labs and deep application know-how. The combination will generate sales of about EUR 3 billion.

Ronald Ayles, Managing Partner at Advent International, said: “By bringing together the highly complementary businesses of Caldic and Connell, we will form a truly global business with significant exposure to high-growth regions and very diversified end markets with a high value-add offering. In Wilbur-Ellis, we have found a committed partner who shares our long-term vision of building a fully integrated growth and innovation focused business. We look forward to working together with Wilbur-Ellis and the management teams of both Caldic and Connell in this exciting new chapter which brings synergistic business development opportunities for principals and customers alike.”

John Buckley, Wilbur-Ellis President and Chief Executive Officer, said: “We couldn’t be more excited about the partnership between Connell and Caldic. With Caldic’s strong global position, and Connell’s 125-year presence in Asia-Pacific, the partnership will immediately establish a global, privately-held specialty chemicals and ingredients distribution leader. The combined organization will provide a broad range of solutions for customers.”

In recent years, Caldic has stood out as a rapidly growing, innovation-driven player. The company continuously invests into value-add capabilities and has established itself as a leading player in attractive and high-growth life science end-markets. Caldic’s management team has a track record of acquiring companies and subsequently integrating and accelerating their growth under its ownership.Alexander Wessels, CEO, Caldic, state

d: “We are thrilled that Advent is partnering with Wilbur-Ellis as this will create a unique opportunity to combine two major players, Caldic and Connell, each with a strong family heritage who are supported by a strong private shareholder base with extensive expertise in the sector. Bringing together similar entrepreneurial cultures and complementary geographies reinforces our ambition to establish Caldic as a global growth platform with a significant presence in two high-growth regions, Asia-Pacific and Latin America. This is an exciting moment to join forces as we accelerate our growth and firmly position the business as one of the major global players in our industry.”

Connell’s product portfolio includes specialty chemicals and ingredients for life science segments such as food, pharmaceuticals, and personal care, as well as industrial segments, such as coatings, rubber and lubricants. With a significant presence in Asia-Pacific, Connell’s strengths lie in its world-class network of principals, combined with technical and marketing expertise, and its extensive presence in local segments. These strengths enable Connell to meet customer-specific requirements through customized formulation and marketing support and dedicated, value-added blending capabilities, which it has built out over its 125 years of local presence across the Asia-Pacific region.

Azita Owlia, who will serve as CEO of the combined entities in Asia-Pacific, added: “In terms of value creation, this is a huge win for our customers, suppliers, and employees. We will be stronger than ever and able to bring reach and capabilities to the segments we serve, as well as global growth opportunities for our employees.”

The transaction is expected to close in the first quarter of 2023 subject to customary conditions and regulatory approvals. Terms of the agreement were not disclosed.

Wilbur-Ellis and Connell were advised in this transaction by Rabobank and Natrium Capital, joint financial advisors.


Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 395 private equity investments across 41 countries, and as of June 30, 2022, had $96 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of 270 private equity investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including industrial & chemicals, business and financial services; technology; health care and retail, consumer and leisure. For over 35 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

Apart from Caldic, Advent has invested in over 30 other companies in the chemicals industry over recent years. Examples include Röhm, one of the global market leaders in methacrylate chemicals, allnex, a global leader in resins for the paints and coatings industry, Oxea, a leading supplier of oxo alcohols and oxo derivatives, and VIAKEM, a leading manufacturer of fine chemicals.

Advent’s approach is to provide significant support to management teams by assisting with operating resources and expertise from its Portfolio Support Group and third-party Operating Partner program.
For more information, please visit:



Founded in 1921, the Wilbur-Ellis companies are leading international marketers, distributors and manufacturers of agricultural products, animal nutrients and specialty chemicals and ingredients. By developing strong relationships, making strategic market investments, and capitalizing on new opportunities, the Wilbur-Ellis companies have continued to grow the business with sales of over $3.5 billion. For more information, please visit



Because we care, we touch the lives of hundreds of thousands of people every day. We inspire innovative and sustainable solutions in life science and specialty chemicals for the food, pharma, personal care and industrial markets of the world. Our solutions, carefully sourced and customized to exacting specifications whenever required, are backed by outstanding research & development, customer service, and technical & regulatory support, ensuring that they meet precisely determined needs at every stage of the value chain.

Across Europe, North America and Asia-Pacific, our approximately 2,600 employees go the extra mile day in, day out, to deliver value-add solutions for our customers. In our activities we embrace the principles of sustainability designing products, services and processes with these in mind. From formulation to delivery, from ingredient to packing, from supplier to customer, we care about every detail of what we do. Because every detail is in our care.

For more information, please visit



Connell is a leading marketer and distributor of specialty chemicals and ingredients in Asia-Pacific, with 125 years of experience. Its extensive network across 48 locations in 18 countries is where big-business resources meet small business agility. Connell brings outstanding insights and service to the life and industrial science markets, while promoting a broad range of leading global manufacturers, its own formulated products, and extensive technical, marketing and supply chain expertise. With its intimate market knowledge and creative approach, Connell provides its business partners with unlimited opportunities to grow their businesses.


Media contacts

Advent International and Caldic
Ruben Cardol, CFF Communications
+31 655 358 427

Wilbur-Ellis and Connell
Jeanne Forbis

Categories: News


Advent International and LANXESS establish a leading global joint venture for high-performance engineering polymers with combined sales of around EUR 3 billion

Advent International
  • Advent and LANXESS to acquire the Engineering Materials business from DSM for an Enterprise Value of EUR 3.7 billion.
  • LANXESS transfers High-Performance Materials business into joint venture.
  • Advent Managing Partner Ronald Ayles: “Together we plan to bring the experience, deep sector know-how, and financial resources to make the joint venture a global success story for everyone involved.”
  • New joint venture provides pioneering product portfolio and integrated value chain.

Frankfurt, May 31, 2022 – Advent International (“Advent”), one of the largest and most experienced global private equity investors with a well-established track record in Chemicals investing, and specialty chemicals company LANXESS are establishing a joint venture for engineering and high-performance polymers. The two companies today signed an agreement to acquire the DSM Engineering Materials business (DEM) from Dutch group Royal DSM, which will become part of the new joint venture. The Enterprise Value is around EUR 3.7 billion and will be financed by the joint venture via equity from Advent and external debt. The business represents sales of around EUR 1.5 billion with an EBITDA margin of approximately 20 percent. DEM is one of the leading global suppliers in high-performance specialty materials that address key market needs in electronics, electrical and consumer goods.

In addition, LANXESS is combining its High Performance Materials (HPM) business unit with DEM. HPM is one of the leading suppliers of engineering and high-performance polymers, which are used primarily in the automotive industry. The business represents annual sales of around EUR 1.6 billion with EBITDA pre exceptionals of around EUR 200 million.

The combined company will have sales of about EUR 3 billion. The transaction is still subject to approval by the authorities. Closing is expected in the first half of 2023. Advent will hold at least 60 percent in the joint venture, LANXESS a stake of up to 40 percent.

Ronald Ayles, Managing Partner at Advent International said: “Joining forces with LANXESS in this industry transforming transaction is a highlight for Advent as we have built a trusted, longstanding relationship and share the highest mutual respect. Together we plan to bring the experience, deep sector know-how, and financial resources to make the joint venture a global success story for everyone involved. The combination of LANXESS’ High-Performance Materials (HPM) and DSM Engineering Materials (DEM) creates a strong platform and brings together extensive expertise, resulting in the best opportunities for employees and more value for customers.”

LANXESS CEO Matthias Zachert added: “LANXESS will once again become significantly less dependent on economic fluctuations. In addition, we as LANXESS will strengthen our balance sheet with the proceeds from the transaction and gain new scope for the further development of our Group. With the new joint venture, we are forging a strong global player in the field of high-performance polymers. The portfolios, value chains and global positioning of the two businesses complement each other perfectly. With its innovative products, the joint venture will be able to play a key role in shaping future developments – for example in the field of electromobility. In Advent, we have a strong and reliable partner with profound experience in the chemical industry and our customer industries.”

Global set-up and high backward integration
Advent International will be the majority owner of the newly created joint venture and has extensive investment experience in the global chemical sector with a proven track record in transforming companies from corporate carve-outs into industry-leading players. Advent also fosters the growth and market position of portfolio companies through further acquisitions and organic investments.

DSM’s Engineering Materials business comprises polyamides (PA6, PA66) as well as various specialty materials (PA46, PA410 and specialty polyesters as well as PPS). Around 2,000 employees work for the division at 9 production and 7 research sites in all relevant markets worldwide. In addition to Europe and the US, the business has a particularly strong presence in Asia.

LANXESS’ High Performance Materials (HPM) business unit is one of the leading producers of PA6 and PBT engineering polymers and thermoplastic fiber composites. A total of 2,000 employees at 10 production and 7 research sites worldwide work for HPM. The global production network is characterized by a high degree of backward integration. The backbone is the Antwerp/Belgium site. There, HPM produces not only PA6 polymers but also relevant precursors such as cyclohexanol, cyclohexanone, caprolactam and glass fibers.

Sustainable product portfolio
Both DEM and HPM are pioneers in sustainability, offering bio- and recycled-based alternatives across their product portfolios.

For example, LANXESS recently launched a new high-performance polymer that is made from 92 percent sustainable raw materials. In producing the polymer, LANXESS uses “green” cyclohexane from sustainable sources such as rapeseed oil or other biomass as a raw material. It is reinforced with 60 percent by weight glass fibers recycled from industrial glass waste.

Advent International is committed to partnering with portfolio companies, leveraging collective expertise, to enact more sustainable long-term growth. In the joint venture, the partners will continue to focus on ESG management while committing to creating a more sustainable future.

Future-oriented applications
The automotive industry is a focus for the new joint venture. There, the polymers are used, among other things, for lightweight elements in structural parts but also in the interior and often replace metal parts. In this way, weight can be saved and CO2 emissions reduced. An important growth area is electromobility. Here, polymers are used, for example, in the construction of battery and charging systems, electronic control systems and power electronics.

In addition, the materials are used in the electrical and electronics industry, for example in components for smartphones, IT and household appliances.

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 390 private equity investments across 41 countries, and as of December 31, 2021, had $88 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 265 private equity investment professionals across Europe, North America, Latin America and Asia. The firm focuses on investments in five core sectors, including industrial & chemicals, business and financial services; technology; health care and retail, consumer and leisure. After 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

Advent has invested in over 30 companies in the chemicals industry over recent years. Examples include Caldic, a globally leading specialty chemicals distributor, Röhm, one of the global market leaders in methacrylate chemicals, allnex, a global leader in resins for the paints and coatings industry, Oxea, a leading supplier of oxo alcohols and oxo derivatives, and VIAKEM, a leading manufacturer of fine chemicals.

Advent’s approach is to provide significant support to management teams by assisting with operating resources and expertise from its Portfolio Support Group and third-party Operating Partner program.

Media contacts

Finsbury Glover Hering
Olaf Zapke
Tel +49 170 764 1971

Markus Stoker
Tel +49 162 245 3946

Categories: News


PAI Partners agrees sale of Perstorp to Petronas Chemicals Group

PAI Partners

PAI Partners (“PAI”), a pre-eminent private equity firm, today announces that it has reached an agreement to sell Perstorp Holding AB (the “Company” or “Perstorp”), a leading sustainability-driven global specialty chemicals company, to Petronas Chemicals Group Berhad (“PCG”), for EUR 2.3bn on a cash and debt free basis.

Established in Sweden more than 141 years ago, Perstorp is a leading specialty chemicals player that develops sustainable solutions for the resins and coatings, engineered fluids, and animal nutrition end-markets. With seven state-of-the-art manufacturing sites and three research and development centres worldwide, Perstorp is present in 26 countries, including the US, in Europe and across the Asia Pacific. It has approximately 1,500 employees and serves more than 2,600 customers globally, with its 130 product offerings across 30 product groups.

Over the course of PAI’s investment, it helped Perstorp embark on a solid sustainability strategy, which included developing products and solutions that are used by and required for the sustainable transformation of many industries and end products. For example, under PAI’s ownership, the Company has created a number of innovative solutions such as the production of sustainable methanol from carbon dioxide, residue streams, biogas and green hydrogen at Perstorp’s Stenungsund site, which will replace a significant portion of its fossil-based methanol feedstock by 2026. PAI has supported Perstorp to grow organically and through market consolidation and has helped to enhance the Company’s reputation amongst its customer base for its product quality and customisation, its supply reliability, its customer centricity and its focus on sustainable products.

Fabrice Fouletier, Partner at PAI, commented: “Under the leadership of Jan Secher and the whole of Perstorp’s fantastic management team, the Company has transformed over the past years, becoming a leading-edge precursor in sustainable and innovative specialty chemistry. As a team, we are extremely proud of the achievements to date and also to have supported the significant investments which have laid the foundations of the current and future profitable growth trajectory.
We see a bright future in Perstorp, in particular within the Petronas Chemicals Group, and wish the team every success in their next chapter of growth.”

Further, Ragnar Hellenius, Partner at PAI, added: “With Petronas Chemicals Group taking this major step into new geographical markets and business models by acquiring Perstorp, it is a clear testimony of Perstorp’s unique market position, technological expertise and above all, an outstanding management team supported by a value driven organisation. I feel proud to have been part of Perstorp’s growth journey and it will be a pleasure to follow how Petronas and Perstorp together will transform the industry into green chemistry.”

Jan Secher, President and CEO of Perstorp, said: “We have been grateful for PAI’s expertise during our partnership. Our teams have worked hard to grow the Company over the last few years, and it is incredibly rewarding to see that our efforts have been a success and allowed us to be well positioned for the next phase of our growth.”

The completion of the acquisition is subject to relevant regulatory and shareholders’ approvals.

PAI was advised by Bank of America, Goldman Sachs and Willkie Farr & Gallagher.

Media contacts

PAI Partners
Greenbrook Communications:
James Madsen | Demi Kurban
Tel.: +44 207 952 2000

Petronas Chemicals Group
Yogeswari Thangavelu
Media Relations, Strategic Communications & Administration Department

About PAI Partners

PAI Partners is a pre-eminent private equity firm, investing in market-leading companies across the globe. It currently manages more than €22.4 billion of dedicated buyout funds and, since 1994, has completed 90 investments in 11 countries, representing over €70 billion in transaction value. PAI has built an outstanding track record through partnering with ambitious management teams where its unique perspective, unrivalled sector experience and long-term vision enable companies to pursue their full potential – and push beyond.
Learn more about the PAI story, the team and their approach at:

About Perstorp Holding AB

Perstorp believes in improving everyday life – making it safer, more convenient and environmentally sound for billions of people all over the world. As a world leading specialty chemicals company, our innovations provide essential properties for products used every day and everywhere. Founded in Sweden in 1881, Perstorp’s focused innovation builds on over 140 years of experience, representing a complete chain of solutions in organic chemistry, process technology and application development. Perstorp has approximately 1,500 employees and manufacturing units in Asia, Europe and North America. Further details on Perstorp can be found here:

About PETRONAS Chemicals Group Berhad

PETRONAS Chemicals Group Berhad (PCG) is the leading integrated chemicals producer in Malaysia and one of the largest in Southeast Asia. It operates a number of world-class production sites, which are fully vertically integrated from feedstock to downstream end-products. With a total combined production capacity of 12.8 million metric tons per annum (mtpa), it is involved primarily in manufacturing, marketing and selling a diversified range of chemical products, including olefins, polymers, fertilisers, methanol and other basic chemicals and derivative products. Listed on Bursa Malaysia in 2010 and with more than three decades of experience in the chemicals industry, PCG was established as part of the PETRONAS Group to maximise value from Malaysia’s natural gas resources.

PCG is one of the top 10 companies in the FTSE4Good Bursa Malaysia (F4GBM) Index, out of 200 largest companies ranked by market capitalisation. In addition, PCG is listed on the Dow Jones Sustainability™ World Index. This Index represents the top 10% of the largest 2,500 companies in the S&P Global BMI based on economic, environment and social criteria. PCG is committed to ensuring that its business practices are in line with globally recognised standards for Economic, Environment, Social & Governance (EESG) practices.
Further details on PCG can be found at

Categories: News


Polyventive Acquires Tri-Tex, Further Expanding its Specialty Chemicals Portfolio

Arsenal Capital Partners

December 13, 2021

Calhoun, GA- Polyventive LLC (“Polyventive”) has acquired the Surfactants and Dyes & Pigments businesses of Tri-TexCo Inc and Trichromatic-West, Inc (jointly, “Tri-Tex”) from SK Capital Partners.

Tri-Tex is a specialty manufacturer of surfactants, dyes, pigments, and water-based polymers used in Textile, Personal Care, Cleaning and Industrial applications. Tri-Tex backs their products with comprehensive technical, applications, supply chain and logistics expertise. Tri-Tex has manufacturing facilities in Quebec, Canada and Los Angeles, California.

“The addition of the Tri-Tex team, product portfolio, applications expertise, and manufacturing facilities advance Polyventive’s strategy to become the premier North American developer and supplier of cost effective, environmentally forward solutions in all of our targeted growth areas.” said Zay Risinger, President of Polyventive.

Concurrent with this transaction, Tri-Tex sold its adhesives business to Meridian Adhesives Group.

About Polyventive LLC
Polyventive is a leading North American manufacturer of specialty chemical solutions for the HI&I, Water Treatment, Personal Care, Construction, Soft Floor Covering, and Textile industries. Polyventive’s manufacturing, technical capabilities, applications expertise, and focus on solving customer problems has made it the first choice for industry leading solutions. With manufacturing and logistics facilities located in Northwest Georgia, USA, the company has best in industry service levels that underpin our commitment to meeting our customer’s needs.


Categories: News


AURELIUS Equity Opportunities sells UK fine chemical manufacturer Wychem to Ascensus Specialties

Aurelius Capital
  • Successful exit after becoming part of AURELIUS’ portfolio and repositioning of the company since 2016
  • Being part of AURELIUS’ chemical activities in the UK, Wychem today is a well-established company with a highly qualified team and a specialized product portfolio
  • Wychem will play a vital role In Ascensus’ European expansion
  • Further transactions expected in the coming weeks

Grünwald/London, December 13, 2021 – AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8) today announces the sale of Wychem Limited (“Wychem”) to Ascensus Specialties LLC (“Ascensus”), a U.S. based provider of specialty chemicals. The transaction resulted in a money-over-money multiple of 10.6x for AURELIUS.

Founded more than 50 years ago and becoming part of the AURELIUS portfolio in 2016, Wychem has been part of the AURELIUS’ chemical activities in the UK and became a leading independent manufacturer of fine chemicals for pharmaceuticals and specialty applications in the local market.

The company offers a comprehensive range of more than 1,000 aromatics which are highly valued by more than 50 global customers across different industries. A team of more than 25 experts and a “kilo lab to plant full scale” capability allow for short innovation cycles. Backed by a comprehensive repositioning including investments in site expansion and capacity improvements carried out by AURELIUS, Wychem is now in excellent shape generating a high margin and strong cash flow.

On the back of this strong position in the European market, Wychem will play a vital role in Ascensus’ Expansion. With foundations strongly rooted in chemistry and process, Wychem has been able to differentiate itself within the European market as a leader in process optimization without the cost burden of FDA regulation.

“Since being part of AURELIUS’ portfolio, we have supported Wychem in its positioning and expansion in its markets and saw a consistently positive development of the company. Latest growth initiatives put the company at the forefront of a new phase of growth in the industry,” said Matthias Täubl, CEO of AURELIUS Equity Opportunities SE & Co. KGaA. “I am pleased to see Wychem become an integral part of Ascensus’ strategic expansion into the European market. On the back of a very successful year for AURELIUS and with a solidly filled transaction pipeline, we are confident to execute further deals in the near future.”

“Wychem is a nimble, highly customer-centric organization with deep relationships across its global customer base of CDMO, pharmaceutical, and other specialty customers. The company’s consistent growth and reliable supply to customers throughout the COVID-19 pandemic reflects its excellent reputation for service and quality. Wychem is an exciting addition to Ascensus and aligns with our commitment to servicing the pharmaceutical space”, said Mike Huff, Chief Executive Officer of Ascensus.

AURELIUS was advised on the transaction by Opus Corporate Finance LLP (Financial) and DWF LLP (Legal).

A telephone conference with the AURELIUS Management Team will be held at 2pm CET on Monday, December 13, 2021 in English for interested investors and journalists. Please send an email to to register.

Categories: News


Aurora Capital-Backed Inhance Technologies Acquires Advance Research Chemicals

Aurora Capital

Houston, TX – December 14, 2021 – Inhance Technologies, LLC (“Inhance Technologies” or “Company”), a leading international provider of sustainable polymer material science solutions and portfolio company of Aurora Capital Partners (“Aurora”), today announced it has completed the acquisition of Advance Research Chemicals, Inc. (“ARC”), a world-class producer of specialty chemicals and materials used in a wide range of high-value applications. Terms of the transaction were not disclosed.

With production facilities in the United States and Mexico, ARC supports many of the world’s largest and most innovative companies with its customized solutions, including a large and growing library of high-purity products underpinned by proprietary processes developed over more than 30 years.  ARC’s unique ability to offer R&D, pilot, and commercial scale production allows the company to provide turnkey, tailored solutions for each of its customers. Serving mission-critical needs across a wide array of industries, including medical batteries, semiconductors, 3D printing, and pharmaceuticals, ARC has established itself as a reliable and innovative resource in the field of specialty chemicals and materials.

“ARC is a pioneer in their markets, and their highly complementary suite of solutions will add to our existing offerings as well as expand our geographic and industry reach,” said Andrew Thompson, President and Chief Executive Officer of Inhance Technologies. “Together, we will be a global leader in sustainable specialty chemicals and materials technologies with unmatched R&D capabilities, technical knowhow, and geographic breadth. I look forward to working with the ARC team to continue innovating and using our combined technologies as a means to achieve a greener, more sustainable future.”

“This transaction combines two true industry leaders, uniquely positioning the combined company to capitalize on its existing technologies and deliver a broader suite of innovative solutions to its customers around the globe,” said Dr. Dayal Meshri, Founder and former Executive Chairman of ARC. “Inhance Technologies has established a well-deserved reputation as a trusted provider of sustainable material science solutions and is the right partner for ARC to accelerate adoption of its technologies to better serve its many market-leading customers.”

“When we partnered with Inhance Technologies, we saw a unique opportunity to expand the application set for their proprietary technologies and develop new solutions for a broader range of industries.  This transaction is a transformational step in realizing that opportunity,” said Randy Moser, Partner at Aurora.  “Leveraging the world-class capabilities of each company will spur even more technological advancements, durably accelerating Inhance Technologies’ growth.”

This is the second add-on acquisition that Inhance Technologies has made since the Company partnered with Aurora in 2018. During that time, Inhance Technologies has made significant investments to support its growth, including the opening of a new headquarters and Global Science and Technology Center in Houston, significantly expanding its facility in St. Louis, and developing multiple new, innovative technologies.

Robert W. Baird & Co. served as financial advisor and Gibson Dunn & Crutcher LLP served as legal advisor to Inhance Technologies.

About Inhance Technologies
Inhance Technologies is a global leading provider of polymer material science solutions. For more than 40 years, Inhance Technologies has been developing innovative technologies and solutions that enable new levels of product performance, while reducing environmental impact. With operations in the Americas, Australia and Europe, Inhance Technologies is transforming specialty plastics and chemicals on a global scale and in a wide range of industries, from consumer products to healthcare, industrial applications to agriculture. More information can be found at

About Advance Research Chemicals
ARC is a world-class specialty chemicals and materials supplier, offering high-purity, tailored solutions, utilizing production facilities in the United States and Mexico. Many of the world’s largest companies partner with ARC to develop performance-critical chemicals and materials that enable some of the world’s most innovative products. ARC also provides private label manufacturing for the institutional and consumer hygiene markets. ARC serves a wide array of industries, including medical batteries, semiconductors, 3D printing, pharmaceuticals, automotive, textiles, and consumer packaged goods.

About Aurora Capital Partners
Aurora is a leading private equity firm focused principally on control investments in middle-market companies with leading market positions, stable industry dynamics, attractive business model characteristics and actionable opportunities for growth in partnership with management. Aurora provides unique resources to its portfolio companies through its Strategy & Operations Program and its team of experienced operating advisors. Aurora’s investors include leading public and corporate pension funds, endowments and foundations active in private equity investing. For more information about Aurora, visit:

Media Contacts

Inhance Technologies
Momotaz Rahman
Marketing Director

Taylor Ingraham / Fred Schweinfurth
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Categories: News


Advent International acquires leading specialty chemicals solutions provider Caldic from Goldman Sachs Asset Management

Advent International
  • Caldic to join forces with GTM, creating a global market leader in specialty chemicals distribution that will operate under the Caldic brand
  • Extending global reach, the combination will accelerate growth prospects with investment in employees, technology and sites
  • Advent to add significant expertise in chemicals, resources and capital

Frankfurt, 22nd November 2021 – Advent International (“Advent”), one of the largest and most experienced global private equity investors, today announced that it has reached conditional agreement with Goldman Sachs Asset Management to acquire Caldic BV (“Caldic”), a global premium provider of value-added life sciences and specialty chemicals solutions with the ambition to be a true partner to its customers and principals. Caldic will then merge with Advent portfolio company Grupo Transmerquim S.A. (GTM), one of the leading chemical distributors in Latin America.

Caldic’s product portfolio includes innovative food ingredients, natural products and functional solutions for a variety of life sciences and industrial end-market segments. With a leading presence in Europe, North America and Asia-Pacific, Caldic employs around 1,200 people across 35 locations. The business generated sales of about €1 billion in 2020.

Ronald Ayles, Managing Partner and Global Head of Chemicals at Advent International added, “For the chemical and distribution industry, this is a time of great change, reorganization and consolidation – and for us as a committed private equity buyer, one of great opportunity. As with all our investments, we pursue a long-term growth approach and intend to support Caldic throughout its next phase of growth. We see great prospects in the combination with GTM, nearly doubling the size of the New Caldic from the start and we look forward to working in close cooperation with the highly qualified employees and management team to firmly establish the combination as a global growth platform.”

“Caldic has a well-established market position and very attractive growth opportunities. Its strengths lie in its global network combined with local expertise, giving the flexibility to meet customer-specific requirements. Combining this business with GTM, the leader in chemicals in the Latin-American market, will create a truly global industry leader,” said Patrice Etlin, Managing Partner at Advent International in Latin America.

With over 30 investments, Advent is one of the most experienced investors in the global chemical industry. The firm invests in well positioned companies with significant operational and strategic potential. Together with the management teams of its portfolio companies, as well as its strong global network of sector teams, external industry experts and operational partners, Advent seeks to create sustainable value by driving revenue and earnings growth.

In 2014, the firm acquired GTM, the second-largest chemical distributor in Latin America. Over its 35-year history, GTM has grown to become one of only two chemical distribution companies with a full Latin-American footprint. Under Advent’s ownership, the combination will have the opportunity to continue its growth and further accelerate it, both organically as well as through acquisitions.

Leveraging this expertise, Advent plans to support the management team in its efforts to establish the combination as a strong global platform. Advent’s strategy for the business centers on substantially investing in its employees, technology and sites. Additionally, Advent sees further growth potential through expansion and investment to strengthen the company’s already well-established market position.

The transaction is expected to close in the first half of 2022, subject to customary conditions and regulatory approvals. Terms of the agreement were not disclosed.

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 380 private equity investments across 42 countries, and as of June 30, 2021, had €68 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 245 private equity investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology.

Advent has invested in over 30 companies in the chemicals industry over recent years. Examples include Röhm, one of the global market leaders in methacrylate chemicals, allnex, a global leader in resins for the paints and coatings industry, and Oxea, a leading supplier of oxo alcohols and oxo derivatives. In addition, Advent has invested in companies including VIAKEM, a leading manufacturer of fine chemicals, and GTM, a transnational distributor of chemical raw materials in Latin America.

After 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, visit:

Categories: News


Arxada and Troy to Combine, Creating a Global, Comprehensive and Innovative Offering in Microbial Control


The combination will broaden the Company’s sales support, technical development and manufacturing footprint, with complementary capabilities in North and South America, Europe, Asia and Oceania.

Technology synergies will accelerate innovation and technical solutions for customers.

Basel, Switzerland and Florham Park, NJ USA – November 3, 2021 –   Arxada, a global specialty chemicals business, and Troy Corporation, a global leader in microbial control solutions and performance additives, today announce that they have entered into an agreement to combine the two companies.

This agreement represents the first strategic deal by Arxada, formerly known as Lonza Specialty Ingredients or LSI and owned by private equity funds Bain Capital and Cinven, since the purchase from Lonza Group AG in July 2021. As part of the deal structure, Troy’s owners will invest in the combined company.

The partnership is a logical next step in Arxada’s strategy to strengthen its offering and enhance the capabilities of its Microbial Control Solutions (‘MCS’) business. Troy is a global leader in the field of industrial preservation with broad expertise in paints and coatings, wood protection and preservation, home and personal care, plastics and textiles, energy and metal working fluids. The combination will create a comprehensive and innovative offering in microbial control, enabling the delivery of new solutions and value-added services to customers.

Arxada will benefit from Troy’s technical expertise, trusted customer relationships, and broad portfolio of performance products as well as a long history of innovation, including the invention of 3-iodo propynyl butyl carbamate (IPBC), which Arxada does not currently manufacture. In addition, the proposed transaction will enhance Arxada’s commercial presence across the globe and add several production sites in important locations including Newark, NJ, USA; Horhausen, Germany; Moerdijk, Netherlands and Kabinburi, Thailand. This extensive manufacturing footprint will allow the combined entity to better serve customer needs and strengthen its position as a trusted partner of choice in microbial control.

Commenting on the combination, Marc Doyle, Chief Executive Officer of Arxada, said:

“The combination of Arxada and Troy will reinforce our position as a leading global provider of microbial control solutions. Our decision to merge with Troy just four months after our launch as an independent company highlights our ambition and commitment to creating the broadest and most innovative solutions for our customers in this sector.

“The combination also fits with our strategy of expanding our geographic footprint and the scale and depth of our capabilities by bolstering our manufacturing capacity in MCS beyond North America into Europe and Asia.

“We look forward to welcoming our new colleagues at Troy so that, together, we can build on our combined expertise in microbial control to deliver innovative, sustainable solutions for all of our customers. We remain committed to working closely with our customers to make sure we continue to meet their needs and ensure a smooth transition once the deal is complete.”

Daryl D. Smith, Chairman, President, & Chief Executive Officer of Troy, commented:

“For over 50 years Troy has developed and manufactured preservatives and additives for various industries, enabling our customers to produce high performing, cost-effective and sustainable products. The combination of Troy’s strength in architectural coatings and industrial preservation, leadership in IPBC technology and broad range of performance additives perfectly complements Arxada’s strengths in wet state preservation. The joining of the companies will deliver significant added value to our customers going forward.”

Kirkland & Ellis is acting as legal adviser, and The Valence Group of Piper Sandler as financial advisor to Arxada and its owners Bain Capital and Cinven. Norton Rose Fulbright US LLP is acting as legal adviser, and JP Morgan Chase is acting as financial adviser to Troy Corporation.

The Parties will work to close the transaction as soon as possible, subject to obtaining customary approvals. Financial details of the deal have not been disclosed.

Categories: News