Ascensus signs definitive agreement to acquire the global leader in boranes and specialty alcoholates

Bellevue, WA, September 6, 2019 – Wind Point Partners (“Wind Point”) and Ascensus Specialties LLC (“Ascensus”) announced today that Ascensus has signed a definitive agreement to acquire Callery, LLC (“Callery” or the “Company”). Callery is the leading global producer of boranes and specialty alcoholates. Terms of the transaction were not disclosed. The transaction is expected to close within the next 30 days.

Based in Evans City, PA, Callery produces specialty reagent chemicals primarily for the pharmaceutical, life science, and niche specialty end markets. The Company was formed in 2017 through Edgewater Capital’s acquisition of BASF’s Inorganic Specialties business. The Company provides world class technical support and extensive R&D capabilities to provide turnkey solutions from lab to launch. Callery’s unique infrastructure and longstanding expertise ensure reliable, high purity reagents for API drugs, electronics, structural adhesives, and other high-value applications.

Headquartered in Bellevue, WA, Ascensus is the largest global producer of dry and liquid sodium borohydride. Wind Point originally acquired the business from Dow Chemical in 2015 and subsequently invested in production expansion and additional supply chain and information technology leadership. Ascensus sodium borohydride chemicals serve pharmaceutical and other industrial customers across North America, Europe, and Asia.

Mike Huff, CEO of Ascensus, stated, “We are very excited to have Callery join the Ascensus family. Together, Ascensus and Callery will become a global reagents leader with #1 market positions in the high-growth, attractive life sciences, pharmaceutical end markets plus other specialty industrial markets. Both companies’ recent capacity expansions position us well to support our customers’ growth for years to come.”

Harry Rathore, CEO of Callery, will be joining the Board of Ascensus and overseeing the transition to Ascensus ownership. Harry noted, “I want to thank Edgewater and our Board for their support over the past three years. The Callery team is proud of our success under their stewardship, and we are looking forward to further growth in partnership with Wind Point and Ascensus.”

Debt financing will be provided by Antares Holdings and KeyBanc Capital Markets Inc. Reed Smith LLP served as legal counsel to Wind Point and Ascensus, and KPMG LLP provided transaction advisory services in connection with the transaction. Taft Stettinius & Hollister LLP served as legal counsel and KeyBanc Capital Markets served as financial advisor to Callery and Edgewater.

About Ascensus Specialties

Headquartered in Bellevue, WA, Ascensus Specialties LLC is the largest global producer of dry and liquid sodium borohydride (“SBH”). Ascensus SBH chemistries improves the way its clients create their products by making what they do easier, more efficient, safer and more selective. From a world-class production plant in Elma, Washington, Ascensus has a global reach that ensures that clients can consistently manufacture their products to the highest standards.

About Callery

Callery, LLC is the world’s leading expert in alcoholates, borane derivatives, and other highly reactive chemistries. Headquartered in Evans City, PA, Callery prides itself on enabling its customers’ success with unmatched quality, flexible production options, outstanding customer service, and global supply chain management.

About Wind Point Partners

Wind Point Partners is a Chicago-based private equity investment firm with approximately $2 billion in assets under management. Wind Point focuses on partnering with top caliber management teams to acquire well-positioned middle market businesses where it can establish a clear path to value creation. The firm targets investments in the consumer products, industrial products, and business services sectors.

Additional information about Wind Point is available at

About Edgewater Capital Partners

Edgewater Capital Partners, headquartered in Cleveland, Ohio, is a sector focused private equity firm investing in lower, middle-market performance materials businesses. Edgewater has extensive experience and expertise in niche manufacturers of specialty chemicals, pharmaceuticals, and engineered substances. Twenty years of industry specific investing has allowed the Firm to develop a deep understanding of the complexities and nuances common to these businesses.

Additional information about Edgewater is available at