Add-on Acquisition • Chemicals

Ascent Industries Acquires DanChem

On October 25, 2021, Ascent Industries acquired chemicals company DanChem from Edgewater Capital Partners for 33M USD

Acquisition Context
  • This is Ascent Industries’ 2nd transaction in the Chemicals sector.
  • This is Ascent Industries’ largest (disclosed) transaction.
  • This is Ascent Industries’ 5th transaction in the United States.
  • This is Ascent Industries’ 1st transaction in Virginia.

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M&A Deal Summary

Date October 25, 2021
Target DanChem
Sector Chemicals
Buyer(s) Ascent Industries
Sellers(s) Edgewater Capital Partners
Deal Type Add-on Acquisition
Deal Value 33M USD

Target Company

DanChem

Danville, Virginia, United States
DanChem is a custom manufacturer (toller) of fine and specialty chemical products providing capacity and technical support to major companies on a national and global scale. DanChem’s unique manufacturing technologies and flexibility enable to meet challenging customer needs within various end markets to include paints and coatings; fibers and textiles; agrochemicals; adhesives and sealants; performance polymers; additives; bio-based and renewable chemicals; water treatment; transportation; lubricants; personal care products; and pharmaceutical intermediates. DanChem was founded in 1960 and is based in Danville, Virginia.
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Buyer Overview 1

Buyer

Ascent Industries

Oak Brook, Illinois, United States

Category Company
Founded 1945
Sector Manufacturing
Employees514
Revenue 178M USD (2024)
DESCRIPTION

Ascent Industries encompasses a portfolio of highly respected manufacturing businesses including Manufacturers Chemicals, DanChem, CRI Tolling, Bristol Tubular Products, the stainless steel and galvanized pipe and tube operations of Marcegaglia USA, and American Stainless Tubing. Ascent Industries was founded in 1945 and is based in Oak Brook, Illinois.


Deal Context for Buyer #
Overall 5 of 5
Sector: Chemicals 2 of 2
Type: Add-on Acquisition 3 of 3
State: Virginia 1 of 1
Country: United States 5 of 5
Year: 2021 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-29 Universal Stainless

Bridgeville, Pennsylvania, United States

Universal Stainless is a producer of semi-finished and finished specialty steel long products and plate, including nickel alloy, stainless steel, tool steel and aircraft quality low alloy steels, in a wide variety of grades and product forms. Universal Stainless was founded in 1994 and is based in Bridgeville, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-09 Specialty Pipe & Tube

Mineral Ridge, Ohio, United States

Specialty Pipe & Tube is a distributor of hot finish, seamless, carbon steel pipe and tubing, with an emphasis on large outside diameters and exceptionally heavy wall thicknesses. Specialty Pipe & Tube was founded in 1964 and is based in Mineral Ridge, Ohio.

Sell -

Seller Profile 1

SELLER

Edgewater Capital Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor


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 Context for Seller #
Overall 15 of 19
Sector: Chemicals 8 of 9
Type: Add-on Acquisition 8 of 11
State: Virginia 1 of 1
Country: United States 15 of 19
Year: 2021 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-07 Altamira Material Solutions

Houston, Texas, United States

Altamira Material Solutions specializes in the custom production of PTFE molding, paste extrusion, plastics machining, and fabrication. Altamira Material Solutions is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-19 AmeriWater

Dayton, Ohio, United States

AmeriWater is a provider of water treatment solutions for dialysis, healthcare, and industrial applications. AmeriWater was founded in 1995 and is based in Dayton, Ohio.

Buy -