Sale of Emerald Performance Materials Completed
Emerald Performance Materials, LLC, announced that it has completed the sale of the company to an affiliate of private equity firm American Securities LLC. Emerald has been an affiliated portfolio company of Sun Capital Partners since 2006.
Headquartered in Cuyahoga Falls, Ohio, Emerald’s industry-leading brands serve a wide range of attractive end markets, including flavors and fragrances, food and beverage, personal and household care, composites, structural adhesives, coatings and plastics. The specialty chemical manufacturer’s portfolio includes benzoic acid and derivatives such as fragrance ingredients and plasticizers, specialty resins, reactive liquid polymers and modifiers, antioxidants, accelerators, colorants, foam control products and other additives. Terms of the private transaction were not disclosed.
Scott M. Wolff, managing director at American Securities, commented, “American Securities is committed to supporting the strategic vision of the Emerald management team and investing in continued growth of the company. Emerald represents a compelling investment opportunity and leverages our industry knowledge and track record in the specialty chemicals sector. We look forward to working with management to achieve Emerald’s full potential as the team executes on its strategy to expand its portfolio and global capabilities.”
Emerald was formed in 2006 from the divesture of six specialty chemical businesses from Lubrizol and has since made four additional acquisitions in complementary businesses. Significant investments in new plant equipment have enabled the Company to expand capacity at its Rotterdam, Netherlands, and Kalama, Washington (U.S.) sites in order to meet increased customer demand for benzoic acid and down-stream specialty products such as non-phthalate plasticizers and fragrance ingredients. In addition, the company added assets at its Charlotte facility for expanded production of foam control and specialty silicone materials, increased capacity of its reactive modifiers at Maple Shade, New Jersey, and expanded R&D and pilot plant capabilities at Kalama, Cincinnati, Charlotte, Moorestown and Akron. The company has introduced more than 50 new products to the market since its formation, focusing on expanding its high performance materials and wide range of low- and 0-VOC products in line with industry needs.
Emerald Performance Materials
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