M&A Deal Summary

Comvest Partners and SK Capital Partners Acquire VanDeMark

On April 23, 2019, private equity firms Comvest Partners and SK Capital Partners acquired chemicals company VanDeMark from Verus Investment Partners and Sidereal Capital Group

Acquisition Highlights
  • This is Comvest Partners’ 1st and SK Capital Partners’ 13th transaction in the Chemicals sector.
  • This is Comvest Partners’ 44th and SK Capital Partners’ 13th transaction in the United States.
  • This is Comvest Partners’ 5th and SK Capital Partners’ 2nd transaction in New York.

M&A Deal Summary

Date 2019-04-23
Target VanDeMark
Sector Chemicals
Buyer(s) Comvest Partners
SK Capital Partners
Sellers(s) Verus Investment Partners
Sidereal Capital Group
Deal Type Secondary Buyout

Target

VanDeMark

Lockport, New York, United States
VanDeMark is a provider of specialty and custom chemicals focusing on phosgene production and phosgene-related chemistry. These products are used in pharmaceuticals, agricultural chemicals, polymers, sealants, coatings, and biocides. VanDeMark was founded in 1951 and is based in Lockport, New York.

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Buyer(S) 2

Buyer

Comvest Partners

West Palm Beach, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 7.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Comvest Partners' headquarters in West Palm Beach, Florida.
Comvest Partners' headquarters in West Palm Beach, Florida.

Comvest Partners is a private investment firm that provides equity and debt capital to middle-market companies across North America. Comvest funds a variety of investment situations, including buyouts, divestitures, recapitalizations, consolidations, take privates, and turnarounds. Sectors of interest include business services, information services, education, financial services, healthcare services, software, IT, and transportation. For equity investments, Comvest prefers control and looks to invest $50 to $150 million per transaction. For debt needs, Comvest seeks to provide $25 to $250 million per transaction. Comvest Partners was formed in 2000 and is based in West Palm Beach, Florida.


DEAL STATS #
Overall 45 of 62
Sector (Chemicals) 1 of 2
Type (Secondary Buyout) 6 of 12
State (New York) 5 of 6
Country (United States) 44 of 61
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-08 Transfast

New York, New York, United States

Transfast is a provider of cross-border payments solutions to consumers and businesses around the world. The Company operates a multi-product, best-in-class payments network capable of processing payments across 120 countries and offering more than 1,000 currency pairs. Transfast was founded in 1988 and is based in New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-18 SunteckTTS

Jacksonville, Florida, United States

SunteckTTS is a multi‐modal transportation solutions provider through a network of sales, operations and capacity specialists. SunteckTTS offers a business process outsource program through which independent agents represent SunteckTTS in the freight transportation marketplace. SunteckTTS was founded in 1976 and is based in Jacksonville, Florida.

Sell -
Buyer

SK Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2007
PE ASSETS 4.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

SK Capital Partners is a private investor in mature and middle-market companies located throughout North America. SK Capital focuses on companies with opportunities for substantial business improvement and strong growth prospects. The Firm looks to invest $100 to $200 million of equity in transactions valued up to $500 million. Prospective businesses typically generate $50 to $500 million in revenues and at least $100 million in EBITDA. Areas of interest include specialty materials, chemicals and healthcare. The Firm will consider a variety of transaction situations, including buyouts, recapitalizations, growth equity financings, and corporate carve-outs. SK Capital Partners was spun out of Arsenal Capital Partners and became independent in 2007. SK Capital Partners is based in New York City.


DEAL STATS #
Overall 20 of 41
Sector (Chemicals) 13 of 21
Type (Secondary Buyout) 3 of 9
State (New York) 2 of 2
Country (United States) 13 of 27
Year (2019) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-20 AEB

Brescia, Italy

AEB is a provider of biotechnology solutions and process enablers for the food and beverage sector, particularly for the oenology market. AEB offers a wide range of products, allowing users to take advantage of the most innovative wine processing and treatment techniques. The result of advanced scientific and technical research, AEB products make use of unique formulations, answering in a targeted way any problem and need concerning the entire winemaking process. AEB was founded in 1963 and is based in Brescia, Italy.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-19 GEON

Westlake, Ohio, United States

GEON is a provider of formulated PVC and polypropylene-based solutions, as well as contract manufacturing services, primarily serving the North American Construction and Automotive end markets. GEON is based in Westlake, Ohio.

Buy $775M

Seller(S) 2

SELLER

Verus Investment Partners

New York, New York, United States

Category Private Equity Firm
Founded 2009
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Verus Investment Partners is a private investment firm focused on buyout and growth capital investments in lower middle-market companies. Verus looks to invest in profitable businesses valued between $20 and $100 million. Sectors of interest include consumer products, food/beverages, value-added manufacturing/industrial, business services, and building materials. Verus Investment Partners is based in New York City.


DEAL STATS #
Overall 5 of 5
Sector (Chemicals) 1 of 1
Type (Secondary Buyout) 1 of 1
State (New York) 1 of 1
Country (United States) 4 of 4
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-24 Pittsburgh Brewing

Pittsburgh, Pennsylvania,

Pittsburgh Brewing Company has always been committed to a few things: deep roots in the Pittsburgh community, strong tradition, innovation, and of course, brewing great beer. It have been at it for over 150 years, and with every bottle we keep getting better.

Sell -
SELLER

Sidereal Capital Group

Summit, New Jersey, United States

Investor Investor Investor


Category Private Equity Firm
Founded 2012
Size Small
Type Sector Agnostic
DESCRIPTION

Sidereal Capital Group is a private equity firm that invests in small and lower middle-market companies operating within niche segments of the specialty manufacturing, industrial services, business services, and information services sectors. The Firm pursues profitable companies with $3 to $10 million in EBITDA and will consider opportunities throughout North America. Prospective transaction situations include family-owned companies, corporate carve-outs, recapitalizations, and consolidations. Sidereal Capital Group was formed in 2012 and is based in Summit, New Jersey.


DEAL STATS #
Overall 3 of 3
Sector (Chemicals) 1 of 1
Type (Secondary Buyout) 2 of 2
State (New York) 3 of 3
Country (United States) 3 of 3
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-14 Flexo Transparent

Buffalo, New York, United States

Flexo Transparent, Inc. provides multi-colored flexible packaging including custom-printed rollstock, bags, pouches, and sleeves primarily for food grade and retail consumer products with a focus on private label accounts with short to medium-sized production runs. Flexo Transparent, Inc. was founded in 1954 and is based in Buffalo, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-28 Ewaste+

Victor, New York, United States

Ewaste+ offers full-spectrum IT asset disposition services including onsite collections, data sanitation, product refurbishment, hard-drive destruction, resource recovery and chain of custody documentation. The company’s activities have diverted over 200 million pounds of electronic waste from disposal in landfills all while rigorously adhering to federal and state regulatory compliance. Ewaste+ was founded in 1995 and is based in Victor, NewYork.

Buy -