M&A Deal Summary

Milliken & Company Acquires Encapsys

On October 18, 2021, Milliken & Company acquired chemicals company Encapsys from Sherman Capital Holdings

Acquisition Highlights
  • This is Milliken & Company’s 5th transaction in the Chemicals sector.
  • This is Milliken & Company’s 9th transaction in the United States.
  • This is Milliken & Company’s 1st transaction in Wisconsin.

M&A Deal Summary
Date 2021-10-18
Target Encapsys
Sector Chemicals
Buyer(s) Milliken & Company
Sellers(s) Sherman Capital Holdings
Deal Type Divestiture
Advisor(s) Credit Suisse Investment Banking
BofA Securities (Financial)
Morgan Lewis (Legal)

Target

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.

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Buyer(S) 1

Buyer

Milliken & Company

Spartanburg, South Carolina, United States
Category Company
Founded 1865
Sector Healthcare Services
DESCRIPTION

Milliken is an innovation company that has been exploring, discovering, and creating ways to enhance people’s lives.

DEAL STATS #
Overall 10 of 10
Sector (Chemicals) 5 of 5
Type (Divestiture) 1 of 1
State (Wisconsin) 1 of 1
Country (United States) 9 of 9
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-01 Zebra-chem

Bad Bentheim, Germany

Zebra-chem is a special compounding company that produces additive and blowing agent masterbatches for PVC, polyolefins, and engineering thermoplastics made possible by producing extremely small micro granules. Zebra-chem is based in Bad Bentheim, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-16 Milliken - Chlor*Rid™ Product Line

Spartanburg, South Carolina, United States

Milliken's Chlor*Rid™ Product Line offers surface decontamination, passivation products, and salt testing kits for soluble salt detection and removal.

Sell -

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 2 of 2
Sector (Chemicals) 2 of 2
Type (Divestiture) 1 of 1
State (Wisconsin) 1 of 1
Country (United States) 2 of 2
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-11 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' products are sold under a number of highly regarded brand names, including Weld-On, Watertite, Studor, Truebro, and Guy Gray. IPS was founded in 1954 and is based in Compton, California.

Sell -
Mergr

Product

Company

Legal