Divestiture • Chemicals

Sherman Capital Holdings Acquires Encapsys

On August 4, 2015, private equity firm Sherman Capital Holdings acquired chemicals company Encapsys from Appvion for 208M USD

Acquisition Context
  • This is Sherman Capital Holdings’ 1st transaction in the Chemicals sector.
  • This is Sherman Capital Holdings’ 2nd largest (disclosed) transaction.
  • This is Sherman Capital Holdings’ 1st transaction in the United States.
  • This is Sherman Capital Holdings’ 1st transaction in Wisconsin.
Investment Fate
  • Encapsys was sold to a strategic buyer in 2021.

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M&A Deal Summary

Date August 4, 2015
Target Encapsys
Sector Chemicals
Buyer(s) Sherman Capital Holdings
Sellers(s) Appvion
Deal Type Divestiture
Deal Value 208M USD

Target Company

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 Overview 1

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 Context for Buyer #
Overall 1 of 2
Sector: Chemicals 1 of 2
Type: Divestiture 1 of 1
State: Wisconsin 1 of 1
Country: United States 1 of 2
Year: 2015 1 of 1
Size (of disclosed) 2 of 2
FOLLOWING 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

Seller Profile 1

SELLER

Appvion

Appleton, Wisconsin, United States

Category Company
Founded 1907
Sector Forest Products
Employees1,600
DESCRIPTION

Appvion, Inc. is a producer of thermal, carbonless, security, inkjet, digital specialty, and colored papers.


Deal Context for Seller #
Overall 1 of 4
Sector: Chemicals 1 of 1
Type: Divestiture 1 of 4
State: Wisconsin 1 of 4
Country: United States 1 of 4
Year: 2015 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-14 Appvion - Point of Sale Paper Business

Appleton, Wisconsin, United States

Appvion's Point of Sale (POS) Paper Business provides a wide variety of fiber-based products.

Sell -