M&A Deal Summary

DuBois Chemicals Acquires BHS Specialty Chemicals

On July 17, 2017, DuBois Chemicals acquired chemicals company BHS Specialty Chemicals from Stonehenge Partners, Post Capital Partners and Spring Mountain Capital

Acquisition Highlights
  • This is DuBois Chemicals’ 7th transaction in the Chemicals sector.
  • This is DuBois Chemicals’ 10th transaction in the United States.
  • This is DuBois Chemicals’ 1st transaction in Utah.

M&A Deal Summary

Date 2017-07-17
Target BHS Specialty Chemicals
Sector Chemicals
Buyer(s) DuBois Chemicals
Sellers(s) Stonehenge Partners
Post Capital Partners
Spring Mountain Capital
Deal Type Add-on Acquisition

Target

BHS Specialty Chemicals

Salt Lake City, Utah, United States
BHS Specialty Chemicals LLC (formerly BHS Marketing LLC) is a manufacturer, blender and distributor of specialty chemicals with facilities in Salt Lake City, UT, Nampa, ID and Fort Lupton, CO. BHS primarily serves the food processing and water treatment industries.

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Buyer(S) 1

Buyer

DuBois Chemicals

Sharonville, Ohio, United States

Category Company
Founded 1920
Sector Chemicals
DESCRIPTION

DuBois Chemicals is a chemical maker whose products are used for cleaning in a wide variety of industries. DuBois prides itself on high-quality solutions that improve efficiency, reduce environmental impact, and perform to the most demanding standards. DuBois Chemicals was founded in 1920 and is based in Sharonville, Ohio.


DEAL STATS #
Overall 10 of 12
Sector (Chemicals) 7 of 9
Type (Add-on Acquisition) 10 of 10
State (Utah) 1 of 1
Country (United States) 10 of 12
Year (2017) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-26 Blue Star Lubrication Technology

Schaumburg, Illinois, United States

Blue Star Lubrication Technology LLC serves the needs of the general manufacturing, steel, cement, mining and automotive industries. The company provides customers with high performance industrial lubricants i.e. specialty greases and gear oils, along with many other specialty lubricants and metalworking fluids that include forming fluids, rust preventive solutions, and straight oils. Blue Star combines top quality products with experienced technical support to customers throughout the United States and Canada.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-17 TWH Water Treatment Industries

Rosemont, Illinois, United States

TWH Water Treatment Industries, Inc. is a provider of water treatment program solutions for national, regional and local customers across diverse end markets. The Company's chemical-based treatment programs protect mission critical assets, reduce energy / water usage and improve asset efficiency and longevity by preventing scale formation on heat exchange surfaces, minimizing other surface deposits and inhibiting corrosion. Water Treatment Solutions is based in Rosemont, Illinois, and encompasses the following brands: Nashville Chemical, Klenzoid Canada, Eldon Water and Chemco Products.

Buy -

Seller(S) 3

SELLER

Stonehenge Partners

Columbus, Ohio, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1999
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Stonehenge Partners is a private equity firm that seeks equity and mezzanine investments in lower middle-market companies with at least $10 million in sales. Stonehenge looks to invest ranging from $10 million to $50 million of equity/junior capital to support management buyouts, leveraged acquisitions, recapitalizations, and growth capital financings. Stonehenge prefers businesses operating in manufacturing, distribution, business services and healthcare. Stonehenge avoids investing in real estate, oil and gas, high technology and 'industries that are susceptible to a high degree of cyclicality'. Stonehenge was formed in 1999 and is based in Columbus, Ohio.


DEAL STATS #
Overall 33 of 38
Sector (Chemicals) 1 of 1
Type (Add-on Acquisition) 12 of 17
State (Utah) 1 of 1
Country (United States) 32 of 37
Year (2017) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-24 Beacon Promotions

New Ulm, Minnesota, United States

Beacon Promotions is a promotional products supplier company. Beacon offers a wide selection of products, such as: calendars, table covers, drinkware, bags, housewares, tools, auto accessories, writing instruments, and over 51 Name Brand product lines for executive gifts and incentives. Beacon Promotions was founded in 2003 and is based in New Ulm, Minnesota.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-18 Microdynamics Group

Naperville, Illinois, United States

Microdynamics Group is a Chicago-based national provider of personalized transactional printing, inserting, and mailing services. Clients include a wide variety of financial institutions, credit unions, commercial and industrial enterprises, health care, and utility companies.

Sell -
SELLER

Post Capital Partners

New York, New York, United States

Investor


Category Private Equity Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

Post Capital Partners is a private investment firm that targets smaller middle-market businesses in traditional, basic industries. Prospective companies generally have revenues of $10 to $150 million and $2 to $20 million of EBITDA. Preferred company criteria include businesses with recurring or repeat revenue models, strong brand recognition, and minimal capital requirements. Sectors of interest include business services, financial / insurance services, consumer products and services, healthcare services, media, publishing, niche manufacturing, industrial, transportation and logistics. Post only considers companies headquartered in North America. Post Capital Partners is based in New York City.


DEAL STATS #
Overall 5 of 8
Sector (Chemicals) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Utah) 1 of 1
Country (United States) 5 of 7
Year (2017) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-09 Invo Healthcare

Tampa, Pennsylvania, United States

Invo HealthCare is a provider of outsourced clinical services for special needs children in 23 states. It operates through two divisions that serve the needs of preschool children (3-5) and school age children (K-12). In addition Invo’s early intervention division provides service delivery to children from birth to 3 years. Invo Healthcare was founded in 1993 and is based in Tampa, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-05 United Road Services

Romulus, Michigan, United States

United Road Services is a provider of vehicle transport and logistics in North America. United Road serves 10,000-plus diverse customers including manufacturers, retailers, finance and leasing companies, rental agencies, auctions, web-based logistics firms and individuals transporting millions of new, remarketed and specialty vehicles annually. United Road Services was founded in 1998 and is based in Romulus, Michigan.

Sell -
DESCRIPTION

Spring Mountain Capital is a growth capital firm focused on providing expansion capital to tech-enabled companies across North America. The Firm looks to invest in earlier stage companies ($2 to $10 million of revenue) with high growth rates, proven products/services, and a path to profitability. Spring Mountain generally looks to commit $5 to $15 million per transaction. Spring Mountain Capital was formed in 2001 and is based in New York City.


DEAL STATS #
Overall 10 of 20
Sector (Chemicals) 1 of 1
Type (Add-on Acquisition) 8 of 18
State (Utah) 1 of 1
Country (United States) 10 of 20
Year (2017) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-09 MedAvante

Hamilton, New Jersey, United States

MedAvante is a clinical science-driven data services company dedicated to maximizing signal detection in global clinical trials. With VirgilÔ, its electronic clinical outcome assessment (eCOA) platform, clinical research sponsors are able to maximize outcome data quality and increase operational efficiency for clinical trials across multiple therapeutic areas. MedAvante built the first electronic source (eSource) data platform and has conducted more than 687,000 assessments of 56,000 clinical trial subjects across 233,000 study visits. MedAvante’s eSource data has been accepted by both the Food and Drug Administration and the European Medicines Agency in successful regulatory submissions.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-25 Maven Clinic

New York, New York, United States

Maven Clinic Co. is a women’s and family healthcare company that provides end-to-end coverage for all paths to parenthood. The company partners with employers and health plans to fill critical gaps in access and care with its digital, clinical, and human approach and ultimately improve maternal outcomes, lower costs, and attract and retain more parents in the workforce. Maven Clinic was formed in 2014 and is based in New York City.

Buy -