Apr 4 2008
Emerald Hilton Davis, LLC, a subsidiary of Emerald Performance Materials, LLC (“Emerald”), today announced that it has acquired the carbon black dispersions business and assets of Wolstenholme International Ltd. (“Wolstenholme”). Emerald is an affiliated portfolio company of Sun Capital Partners, Inc., a leading private investment firm specializing in leveraged buyouts and investments in market-leading companies. Terms of the transaction were not disclosed.
Wolstenholme is a premier manufacturer of carbon black dispersions for printing inks, coatings, plastics and other specialty applications that are marketed under the Obsidian®, Vantage®, Econojet®, Multijet®, Polyjet®, Optijet®, Ultrajet®, and Jetblack® brands. Wolstenholme’s manufacturing facility located in West Chicago, IL is included in the transaction.
James Donnelly, Business Director, Emerald Hilton Davis LLC, stated, “The acquisition of Wolstenholme’s carbon black dispersions business helps us accomplish three important strategic goals. It broadens our water-based product offering, adds resin based black dispersions that we do not offer currently, and provides established customer relationships in our target markets. The fit is excellent and we are very enthusiastic about this acquisition.”
Andrew Rink, Group Managing Director, Wolstenholme International Ltd., added, “The combination of Wolstenholme’s carbon black dispersions business with Emerald’s Hilton Davis unit provides a range of operating and growth opportunities for both businesses whilst enabling Rutland Partners LLP to realize a further part from its investment in the wider Wolstenholme group.”
Christopher H. Thomas, Vice President, Sun Capital Partners, Inc., commented, “The addition of Wolstenholme will further increase Hilton Davis’ value proposition by expanding its product offering to both existing and target market segments and reflects our ongoing commitment to building Emerald’s growing franchise following the acquisition of CVC Specialty Chemicals, Inc., a leader in specialty epoxies, monomers, and catalysts for structural composites, adhesives, coatings and industrial applications earlier this year.”
Posted April 3rd,2008