M&A Deal Summary

United Initiators Acquires Syrgis Performance Initiators

On July 27, 2012, United Initiators acquired chemicals company Syrgis Performance Initiators from Greyrock Capital Group, Edgewater Capital Partners and Triangle Capital

Acquisition Highlights
  • This is United Initiators’ 1st transaction in the Chemicals sector.
  • This is United Initiators’ 1st transaction in the United States.
  • This is United Initiators’ 1st transaction in Arkansas.

M&A Deal Summary

Date 2012-07-27
Target Syrgis Performance Initiators
Sector Chemicals
Buyer(s) United Initiators
Sellers(s) Greyrock Capital Group
Edgewater Capital Partners
Triangle Capital
Deal Type Add-on Acquisition

Target

Syrgis Performance Initiators

Helena, Arkansas, United States
website
Syrgis Performance Initiators, Inc. is a manufacturer of an organic peroxides for building materials, composites, cosmetic, mining, oil and gas, paints and coatings

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Buyer(S) 1

Buyer

United Initiators

Pullach, Germany

website


Category Company
Founded 1911
Sector Chemicals
Employees600
Revenue 236M EUR (2015)
DESCRIPTION

United Initiators is a global manufacturer of peroxides, persulfates and other specialty initiators. United Initiators’ products comprise organic peroxides, persulfates, hydrogen peroxide and speciality chemicals, which have a wide range of applications including the production of acrylics and latex polymers, paint, plastics, bleaching agents, denture cleaners, teeth whiteners and disinfectants.


DEAL STATS #
Overall 1 of 1
Sector (Chemicals) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Arkansas) 1 of 1
Country (United States) 1 of 1
Year (2012) 1 of 1

Seller(S) 3

SELLER

Greyrock Capital Group

Walnut Creek, California, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 2002
PE ASSETS 350M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Greyrock Capital Group provides mezzanine debt and equity capital to finance buyouts, recapitalizations and growth needs of middle market companies. Greyrock looks to invest between $8 and $40 million of equity and/or junior capital in companies with minimum revenues of $10 million and at least $2 million of EBITDA. Greyrock prefers companies in defensible markets with low cost structures. Greyrock Capital was formed in 2002 and has offices in San Francisco, California; Chicago, Illinois; and Westport, Connecticut.


DEAL STATS #
Overall 13 of 45
Sector (Chemicals) 1 of 3
Type (Add-on Acquisition) 9 of 23
State (Arkansas) 1 of 1
Country (United States) 13 of 45
Year (2012) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-13 DataSource

Kansas City, Missouri, United States

DataSource, Inc. is a technology-enabled Business Process Outsourcing (“BPO”) solutions provider of print supply and marketing services for industry-leading brands in the restaurant/hospitality and retail market segments. DataSource provides the expertise, services, technology, and products to help companies precisely execute and manage their branded programs through end-to-end brand management solution. DataSource was founded in 1989 and is based in Kansas City, Missouri.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-13 IAB Solutions

Clarks Summit, Pennsylvania, United States

IAB Solutions is a nationwide full-service provider of outsourced accounts receivable management services and focuses on the resolution, recovery and management of deductions, accounts receivable disputes, and invoice collections. Headquartered in Clarks Summit, PA, the Company develops long-term mutually beneficial client partnerships by delivering accurate, actionable information for deduction prevention and process improvement.

Sell -
SELLER

Edgewater Capital Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1982
Size Middle-Market
Type Sector Focused
DESCRIPTION

Edgewater Capital Partners is a private equity firm focused on acquiring established, lower middle-market companies. Prospective investment situations include corporate divestitures, management buyouts, and family business liquidity. The Firm's industry preferences include highly-engineered manufacturing, specialty chemicals, specialty Industrials, Life Science. Edgewater Capital Partners was formed in 1982 and is based in Cleveland, Ohio.


DEAL STATS #
Overall 8 of 17
Sector (Chemicals) 5 of 9
Type (Add-on Acquisition) 4 of 10
State (Arkansas) 2 of 2
Country (United States) 8 of 17
Year (2012) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-01 P Chem

Houston, Texas, United States

P Chem, Inc. manufactures and sells petroleum and industrial chemical corrosion inhibitors, H2S scavengers and scale inhibitors.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-12 Tri-Tec Seal

Swartz Creek, Maine, United States

Tri-Tec Seal, LLC (“Tri-Tec”), a leading designer and manufacturer of high performance rotary shaft seals for various end-markets, including mining, industrial, agricultural, oil and gas, and chemical industries. In addition to Tri-Tec’s attractive organic opportunities, Edgewater is keenly interested in executing add-on acquisitions that provide additional technological capabilities, complimentary products, and expand geographic and end-market exposure.

Buy -
SELLER

Triangle Capital

Raleigh, North Carolina, United States

website


Category Private Equity Firm
Founded 2007
Size Middle-Market
Type Sector Agnostic
DESCRIPTION


DEAL STATS #
Overall 7 of 70
Sector (Chemicals) 2 of 4
Type (Add-on Acquisition) 3 of 33
State (Arkansas) 1 of 1
Country (United States) 7 of 69
Year (2012) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-17 CIS Secure

Ashburn, Virginia, United States

CIS Secure is a provider of secure communications equipment and computing solutions for a wide range of U.S. government customers. CIS is focused on modifying Commercial-off-the-Shelf (“COTS”) communications and network equipment to support stringent government requirements to protect sensitive and classified information from illicit capture or manipulation. CIS Secure was founded in 1992 and is based in Ashburn, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-05 Parts Now

Middleton, Wisconsin, United States

Parts Now is a distributor of consumable printer parts and related accessories and trainer of printer repair technicians. Parts Now was founded in 1989 and is based in Middleton, Wisconsin.

Buy -