M&A Deal Summary

BASF Acquires Novolyte Technologies

On April 25, 2012, BASF acquired electronics company Novolyte Technologies from Greyrock Capital Group, Arsenal Capital Partners and Triangle Capital

Acquisition Highlights
  • This is BASF’s 1st transaction in the Electronics sector.
  • This is BASF’s 5th transaction in the United States.
  • This is BASF’s 1st transaction in Ohio.

M&A Deal Summary
Date 2012-04-25
Target Novolyte Technologies
Sector Electronics
Buyer(s) BASF
Sellers(s) Greyrock Capital Group
Arsenal Capital Partners
Triangle Capital
Deal Type Add-on Acquisition

Target

Novolyte Technologies

Independence, Ohio, United States
Novolyte Technologies is a manufacturer and supplier of specialty electrolyte materials and high performance solvents for lithium ion battery and energy storage applications.

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Buyer(S) 1

Buyer

BASF

Ludwigshafen, Germany
Category Company
Founded 1865
Sector Chemicals
Employees111,855
Revenue 68.9B EUR (2023)
DESCRIPTION
Entrance to BASF's office in Florham Park, New Jersey.
Entrance to BASF's office in Florham Park, New Jersey.

BASF is a global producer of chemicals. BASF looks to combine economic success with environmental protection and social responsibility. BASF was founded in 1865 and is based in Ludwigshafen, Germany.

DEAL STATS #
Overall 9 of 20
Sector (Electronics) 1 of 1
Type (Add-on Acquisition) 6 of 15
State (Ohio) 1 of 1
Country (United States) 5 of 8
Year (2012) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-23 BASF Corp - Quality Trait Analysis Division

United States

BASF's QTA System is a patented analytical service that enables clients to quickly and easily test the quality of products and materials, reliably and accurately. QTA handles all the technical development, configuration, management and monitoring behind the scenes, enabling accurate quality testing by non-technical personnel, and allowing its clients more freedom in managing their operations.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-12 Equateq

Isle of Lewis, United Kingdom

Equateq Ltd. is a producer of highly concentrated omega-3 fatty acids. Equateq’s proprietary technology allows flexible formulation of omega-3 fatty acids at exceptional purity levels.

Buy -

Seller(S) 3

SELLER

Greyrock Capital Group

Walnut Creek, California, United States

Investor Investor Investor Investor Investor

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 11 of 45
Sector (Electronics) 1 of 1
Type (Add-on Acquisition) 8 of 23
State (Ohio) 1 of 4
Country (United States) 11 of 45
Year (2012) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-26 Information innovators

Springfield, Vermont, United States

Information innovators, Inc. is a provider of IT services and solutions to IT and health-focused clients across the federal government. It offer a range of services including program & project management, security & information assurance, systems design & integration, telecommunications consulting and enterprise architecture support.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-30 Chromaflo Technologies

Ashtabula, Ohio, United States

Chromaflo Technologies is a supplier of colorant systems, chemical and pigment dispersions, serving customers in architectural and industrial coatings as well as the thermoset composites market. Chromaflo Technologies was founded in 2012 and is based in Ashtabula, Ohio.

Buy -
SELLER

Arsenal Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Arsenal Capital Partners is a private equity firm focused on middle-market healthcare, specialty industrial, and financial service companies. Specifically, Arsenal looks to acquire businesses in the areas of specialty chemicals, aerospace/defense, transportation, environmental services, business services, insurance, asset management, financial technology, medical products, healthcare IT, and healthcare contract research/manufacturing. The Firm typically seeks to commit $50 to $300 million per investment in profitable businesses with at least $10 million of EBITDA. Funds are generally used to support buyouts, recapitalizations, growth financings, consolidations, and divestitures. The Firm avoids investing in companies reliant on high levels of technology. Arsenal Capital Partners was formed in 2000 and is headquartered in New York City.

DEAL STATS #
Overall 11 of 35
Sector (Electronics) 1 of 1
Type (Add-on Acquisition) 6 of 17
State (Ohio) 1 of 3
Country (United States) 11 of 32
Year (2012) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-23 FirstAgain

San Diego, California, United States

FirstAgain LLC, is a provider of direct unsecured loans to super-prime borrowers via the Internet. It has developed and operates proprietary technology which offers clients a completely digital and paperless origination, underwriting and servicing experience.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-30 Chromaflo Technologies

Ashtabula, Ohio, United States

Chromaflo Technologies is a supplier of colorant systems, chemical and pigment dispersions, serving customers in architectural and industrial coatings as well as the thermoset composites market. Chromaflo Technologies was founded in 2012 and is based in Ashtabula, Ohio.

Buy -
SELLER

Triangle Capital

Raleigh, North Carolina, United States
Category Private Equity Firm
Founded 2007
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

DEAL STATS #
Overall 6 of 72
Sector (Electronics) 1 of 1
Type (Add-on Acquisition) 2 of 34
State (Ohio) 1 of 5
Country (United States) 6 of 71
Year (2012) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-17 Community Intervention Services

Brockton, Massachusetts, United States

Community Intervention Services was formed to acquire, develop and operate a national network of specialized mental health and substance abuse facilities and programs. Community Intervention Services is based in Brockton, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-30 Chromaflo Technologies

Ashtabula, Ohio, United States

Chromaflo Technologies is a supplier of colorant systems, chemical and pigment dispersions, serving customers in architectural and industrial coatings as well as the thermoset composites market. Chromaflo Technologies was founded in 2012 and is based in Ashtabula, Ohio.

Buy -
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