Friday, December 31, 2010
Thursday, September 30, 2010
Q3 2010 Quarterly Newsletter
This quarter we chat with Chris Childres, Managing Partner of Edgewater Capital Partners, on his views in investing in the chemical industry.
Wednesday, June 30, 2010
Tuesday, May 11, 2010
Spectrum Chemical divests Spectrum Pharmacy Products to The Harvard Drug Group
COSTA MESA, Calif. (May 07, 2010) – Spectrum Pharmacy Products, a business of Spectrum Chemical Mfg. Corp. (“Spectrum Chemical”), was acquired by The Harvard Drug Group, LLC (“Harvard Drug”), a portfolio company of Court Square Capital Partners (“Court Square”), a private equity firm based in New York, New York. Transaction terms were not disclosed.
McGladrey Capital Markets led the negotiations and acted as exclusive financial advisor to Spectrum Chemical. The transaction occurred on May 3, 2010.
Marc Hayem, CEO of Spectrum Chemical, comments, “We’re very happy with the sale of our pharmacy business to an industry leader such as The Harvard Drug Group. We’re confident that Harvard will continue providing our customers with same high quality products and services we’ve supplied in the past. At the same time we can redirect our management team’s full attention to our core laboratory chemicals and supplies space focus on serving scientists engaged in the discovery and development of regulated products.”
“This transaction is really a win-win situation,” said Jay Kuo, vice president at McGladrey Capital Markets’ Chemicals group. “The Harvard Drug Group will emerge as a key market leader in terms of size, product portfolio breadth and geographical coverage. At the same time, Spectrum can dedicate both the financial and human resources to continue growing their key Chemicals and laboratory supplies business, particularly in new product categories and international growth.”
About The Harvard Drug Group
Harvard Drug is the largest independent distributor of generic-focused pharmaceuticals, over-the-counter drugs, vitamins, supplements, medical supplies and compounding chemicals. The company sells to over 42,000 independent pharmacies, retail pharmacy chains, long-term care facilities, government facilities and buying groups in the United States, as well as Canada and select Global Markets through more than 100 sales representatives and partnerships with over 35 vendor partners. The company has headquarters in Livonia, Michigan.
About Spectrum Chemicals & Laboratory Products, a division of Spectrum Chemical Mfg. Corp.
Founded in 1971, Spectrum Chemicals & Laboratory Products manufactures and distributes fine chemicals and laboratory products with quality and delivery you can count on every time. Spectrum’s chemical offering consists of over 15,000 active pharmaceutical ingredients (API's), excipients, biochemicals, nutraceuticals, cosmetic ingredients, analytical reagents, and chemical solutions in research and production quantities. Spectrum also distributes nearly 80,000 supply and equipment items from over 200 manufacturers like Mettler-Toledo, Ohaus®, Corning, Denver Instrument, Hirschmann, Jencons, Microflex®, DynaMed®, Thermo Scientific, Wheaton Science Products, Kimble Chase, Health Engineering Systems, SPEX CertiPrep®, and LabChem. Spectrum's ISO 9000:2008 certified facilities are FDA registered and operate under current Good Manufacturing Practices (cGMP). To learn more about Spectrum visit www.SpectrumChemical.com
About McGladrey Capital Markets
McGladrey Capital Markets LLC (www.mcgladreycm.com) is a global provider of investment banking services to private and public companies with annual revenues of up to $1 billion. The firm’s services include mergers, acquisitions, divestitures, recapitalizations, capital raising, fairness opinions and restructurings. McGladrey Capital Markets, which offers in-depth expertise in many distinct industry sectors, brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives.
McGladrey Capital Markets is affiliated with RSM McGladrey Inc., a professional services firm providing accounting, tax and business consulting. Both firms are indirect subsidiaries of H&R Block Inc. (NYSE: HRB), the world’s preeminent tax services provider. McGladrey Capital Markets’ international headquarters are located in Costa Mesa, Calif. The firm is a member of FINRA.
McGladrey Capital Markets led the negotiations and acted as exclusive financial advisor to Spectrum Chemical. The transaction occurred on May 3, 2010.
Marc Hayem, CEO of Spectrum Chemical, comments, “We’re very happy with the sale of our pharmacy business to an industry leader such as The Harvard Drug Group. We’re confident that Harvard will continue providing our customers with same high quality products and services we’ve supplied in the past. At the same time we can redirect our management team’s full attention to our core laboratory chemicals and supplies space focus on serving scientists engaged in the discovery and development of regulated products.”
“This transaction is really a win-win situation,” said Jay Kuo, vice president at McGladrey Capital Markets’ Chemicals group. “The Harvard Drug Group will emerge as a key market leader in terms of size, product portfolio breadth and geographical coverage. At the same time, Spectrum can dedicate both the financial and human resources to continue growing their key Chemicals and laboratory supplies business, particularly in new product categories and international growth.”
About The Harvard Drug Group
Harvard Drug is the largest independent distributor of generic-focused pharmaceuticals, over-the-counter drugs, vitamins, supplements, medical supplies and compounding chemicals. The company sells to over 42,000 independent pharmacies, retail pharmacy chains, long-term care facilities, government facilities and buying groups in the United States, as well as Canada and select Global Markets through more than 100 sales representatives and partnerships with over 35 vendor partners. The company has headquarters in Livonia, Michigan.
About Spectrum Chemicals & Laboratory Products, a division of Spectrum Chemical Mfg. Corp.
Founded in 1971, Spectrum Chemicals & Laboratory Products manufactures and distributes fine chemicals and laboratory products with quality and delivery you can count on every time. Spectrum’s chemical offering consists of over 15,000 active pharmaceutical ingredients (API's), excipients, biochemicals, nutraceuticals, cosmetic ingredients, analytical reagents, and chemical solutions in research and production quantities. Spectrum also distributes nearly 80,000 supply and equipment items from over 200 manufacturers like Mettler-Toledo, Ohaus®, Corning, Denver Instrument, Hirschmann, Jencons, Microflex®, DynaMed®, Thermo Scientific, Wheaton Science Products, Kimble Chase, Health Engineering Systems, SPEX CertiPrep®, and LabChem. Spectrum's ISO 9000:2008 certified facilities are FDA registered and operate under current Good Manufacturing Practices (cGMP). To learn more about Spectrum visit www.SpectrumChemical.com
About McGladrey Capital Markets
McGladrey Capital Markets LLC (www.mcgladreycm.com) is a global provider of investment banking services to private and public companies with annual revenues of up to $1 billion. The firm’s services include mergers, acquisitions, divestitures, recapitalizations, capital raising, fairness opinions and restructurings. McGladrey Capital Markets, which offers in-depth expertise in many distinct industry sectors, brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives.
McGladrey Capital Markets is affiliated with RSM McGladrey Inc., a professional services firm providing accounting, tax and business consulting. Both firms are indirect subsidiaries of H&R Block Inc. (NYSE: HRB), the world’s preeminent tax services provider. McGladrey Capital Markets’ international headquarters are located in Costa Mesa, Calif. The firm is a member of FINRA.
Tuesday, April 20, 2010
Q1 2010 Quarterly Newsletter
Below is a link to the latest newsletter from McGladrey's Chemicals, Plastics and Advanced Materials Group. This quarter I interviewed Kevin Moran, Founder of Anchor Capital Partners. Anchor Capital is a middle-market private equity firm focused specifically on the chemical industry.
Q1 2010 Quarterly Newsletter
Tuesday, February 2, 2010
Chemical M&A Volume
Above is an update of the global M&A volume for the chemical industry. 2009 was a difficult year for transactions worldwide and as you can see the chemical industry was no exception. Deal volume fell back to levels comparable to the 2002 - 2003 time frame. In fact, Dow Chemical represented the majority of 2009 deal volume with its acquisition of Rohm & Haas and subsequent divestitures. BASF also rang in $5 billion in transaction value with its acquisition of Ciba Specialty Chemicals. We also saw a variety of take-privates as low trading values of several public companies made them attractive take-over targets. Commodity sectors saw a good amount of activity as strategics looked to consolidate on a global basis, survive and prepare for an economic recovery. Fertilizer and agrochemical industries also saw healthy activity as the sector is coming off a high-margin environment with strong balance sheets and will look to put their cash to use and expand globally. Wednesday, January 6, 2010
BASF divests Aurora Special Effect Films to RMS Packaging
RMS Packaging Inc. (“RMS Packaging”) has signed a definitive agreement to acquire the special effects films business - marketed under the trade name Aurora® - from BASF Corporation (“BASF”) today. BASF is a leading North American manufacturer of multi-layered iridescent films with its history and microlayer technology dating back to Mearl Corporation, which was acquired by Engelhard Corporation in 1996 and by BASF in 2006. The Aurora film products are used in specialty consumer packaging, labeling, decorative textile and glitter applications. The Aurora portfolio includes well-known brands such as Black Magic™, Garden Series™, ShimmerSilk™ and Gemtallic™. The Aurora specialty films are produced from BASF’s facility in Peekskill, New York, and Aurora is positioned as a leading line of premium, high-quality iridescent films for consumer packaging and labeling applications.
McGladrey Capital Markets LLC initiated the transaction, sourced the buyer, led the negotiations, and acted as the exclusive financial advisor to BASF.
“RMS Packaging is backed by a highly capable investor group with experience in both the film and packaging industries,” said Jay Kuo, vice president at McGladrey Capital Markets’ Chemical Group. “The divestiture of Aurora will allow BASF to redirect resources to focus on its core chemical manufacturing businesses, while allowing RMS Packaging the opportunity to continue the legacy that Mearl, Engelhard and subsequently BASF have built over decades of producing top quality films for iridescent film industry. This transaction will also allow RMS Packaging to pursue full commercialization of several promising new products, such as ShimmerSilk™ shrinkable iridescent film, for high-end textile applications and a biodegradable iridescent film,” Kuo added.
Sheldon Rosenberg, President and CEO at RMS Packaging, commented, “We are excited to have this opportunity to build a leading iridescent film business with roots from premier chemical manufacturers such as BASF and Engelhard. Our immediate goal is to invest in the Aurora brand and intensify marketing and product development efforts to pursue being a global leader in specialty films. We are committed to investing both the financial and human capital resources necessary to achieve long-term success in the specialty film industry, and look forward to working with our customers to offer new innovations and grow our businesses together.”
About RMS Packaging
RMS Packaging is a newly formed company dedicated to investing in and serving the specialty films industry. With its first platform acquisition of BASF’s Aurora Iridescent Films Business, the company seeks to be a leading high-quality supplier of specialty iridescent films on a global basis. RMS Packaging is founded by the Rosenberg family and its partners contribute a broad range of management and operational experience from various subsectors within the plastic films industry.
About BASF
BASF Corporation, headquartered in Florham Park, New Jersey, is the North American affiliate of BASF SE, Ludwigshafen, Germany. BASF has more than 15,000 employees in North America, and had sales of approximately $17.5 billion in 2008. For more information about BASF’s North American operations, or to sign up to receive news releases by e-mail, visit www.basf.com/usa.
BASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics and performance products to agricultural products, fine chemicals, as well as oil and gas. As a reliable partner, BASF helps its customers in virtually all industries to be more successful. With its high-value products and intelligent solutions, BASF plays an important role in finding answers to global challenges, such as climate protection, energy efficiency, nutrition and mobility. BASF has approximately 97,000 employees and posted sales of more than €62 billion in 2008. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information on BASF is available on the Internet at www.basf.com.
McGladrey Capital Markets LLC initiated the transaction, sourced the buyer, led the negotiations, and acted as the exclusive financial advisor to BASF.
“RMS Packaging is backed by a highly capable investor group with experience in both the film and packaging industries,” said Jay Kuo, vice president at McGladrey Capital Markets’ Chemical Group. “The divestiture of Aurora will allow BASF to redirect resources to focus on its core chemical manufacturing businesses, while allowing RMS Packaging the opportunity to continue the legacy that Mearl, Engelhard and subsequently BASF have built over decades of producing top quality films for iridescent film industry. This transaction will also allow RMS Packaging to pursue full commercialization of several promising new products, such as ShimmerSilk™ shrinkable iridescent film, for high-end textile applications and a biodegradable iridescent film,” Kuo added.
Sheldon Rosenberg, President and CEO at RMS Packaging, commented, “We are excited to have this opportunity to build a leading iridescent film business with roots from premier chemical manufacturers such as BASF and Engelhard. Our immediate goal is to invest in the Aurora brand and intensify marketing and product development efforts to pursue being a global leader in specialty films. We are committed to investing both the financial and human capital resources necessary to achieve long-term success in the specialty film industry, and look forward to working with our customers to offer new innovations and grow our businesses together.”
About RMS Packaging
RMS Packaging is a newly formed company dedicated to investing in and serving the specialty films industry. With its first platform acquisition of BASF’s Aurora Iridescent Films Business, the company seeks to be a leading high-quality supplier of specialty iridescent films on a global basis. RMS Packaging is founded by the Rosenberg family and its partners contribute a broad range of management and operational experience from various subsectors within the plastic films industry.
About BASF
BASF Corporation, headquartered in Florham Park, New Jersey, is the North American affiliate of BASF SE, Ludwigshafen, Germany. BASF has more than 15,000 employees in North America, and had sales of approximately $17.5 billion in 2008. For more information about BASF’s North American operations, or to sign up to receive news releases by e-mail, visit www.basf.com/usa.
BASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics and performance products to agricultural products, fine chemicals, as well as oil and gas. As a reliable partner, BASF helps its customers in virtually all industries to be more successful. With its high-value products and intelligent solutions, BASF plays an important role in finding answers to global challenges, such as climate protection, energy efficiency, nutrition and mobility. BASF has approximately 97,000 employees and posted sales of more than €62 billion in 2008. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information on BASF is available on the Internet at www.basf.com.
Subscribe to:
Posts (Atom)
