M&A Deal Summary

Centerbridge Partners Acquires IPS

On August 11, 2021, asset manager Centerbridge Partners acquired chemicals company IPS from Sherman Capital Holdings

Acquisition Highlights
  • This is Centerbridge Partners’ 1st transaction in the Chemicals sector.
  • This is Centerbridge Partners’ 36th transaction in the United States.
  • This is Centerbridge Partners’ 5th transaction in California.

M&A Deal Summary
Date 2021-08-11
Target IPS
Sector Chemicals
Buyer(s) Centerbridge Partners
Sellers(s) Sherman Capital Holdings
Deal Type Secondary Buyout
Advisor(s) BofA Securities
Credit Suisse Investment Banking (Financial)
Morgan Lewis (Legal)

Target

IPS

Compton, California, United States
IPS is a manufacturer of a wide range of adhesive cement, structural adhesives, and niche plumbing products primarily for residential, commercial, industrial, and international markets. IPS was founded in 1954 and is based in Compton, California.

Search 201,429 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

Centerbridge Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 2005
PE ASSETS 38.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Centerbridge Partners is a mega-sized private equity firm focused primarily on distressed/special situations in North America and Europe. In addition to making control investments, Centerbridge also maintains funds for non-control credit investments. Centerbridge was formed in 2005 and is based in New York City.

DEAL STATS #
Overall 45 of 49
Sector (Chemicals) 1 of 1
Type (Secondary Buyout) 26 of 28
State (California) 5 of 5
Country (United States) 36 of 40
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-01 Syncreon

Cloghran, Ireland

Syncreon is an asset-light global logistics company that facilitates the integration of customers’ supply chains and the final delivery of finished products to their end customers.

Sell $1.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-30 Medical Solutions

Omaha, Nebraska, United States

Medical Solutions is a healthcare staffing firm that specializes in placing registered nurses and allied professionals in temporary travel assignments. With offices in Omaha, San Diego, Cincinnati, and Tupelo. Medical Solutions was founded in 2001 and is based in Omaha, Nebraska.

Buy -

Seller(S) 1

SELLER

Sherman Capital Holdings

Category Private Equity Firm
Size Small
Type Sector Agnostic
DESCRIPTION

Sherman Capital Holdings LLC is the private investment arm of Cypress Group LLC. Sherman Capital looks for opportunities where it can assist with growth and operational efficiency. Specific situations of interest include manufacturing or industrial service businesses in industries with consolidation opportunities. Sherman Capital Holdings is based in Baltimore, Maryland.

DEAL STATS #
Overall 1 of 2
Sector (Chemicals) 1 of 2
Type (Secondary Buyout) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 2
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-07 IPS

Compton, California, United States

IPS is a manufacturer of a wide range of adhesive cement, structural adhesives, and niche plumbing products primarily for residential, commercial, industrial, and international markets. IPS was founded in 1954 and is based in Compton, California.

Buy $700M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-18 Encapsys

Appleton, Wisconsin, United States

Encapsys discovers, develops and manufactures microencapsulation solutions for use in the building and construction, paper, bedding, and personal and household care industries. Encapsys is based in Appleton, Wisconsin.

Sell -
Mergr

Product

Company

Legal