Edgewater Capital Partners and FAR Chemical Announce Acquisition of Acetylacetonates Product Line of Mackenzie Chemicals
Cleveland, OH and Palm Bay, FL. Edgewater Capital Partners, LLC (“Edgewater”) is pleased to announce that its portfolio company, FAR Chemical, Inc. (“FAR”), has completed the acquisition of the acetylacetonates product line and related assets of MacKenzie Chemical, LLC (“MacKenzie”). Financial terms were not disclosed.
Based near New Orleans, Louisiana, MacKenzie is a manufacturer of metal acetylacetonates (or “AcAc”) utilized as catalysts, cross linkers, curing agents and stabilizers, primarily for use in adhesives and urethane applications. Operating in Louisiana since 1977, MacKenzie is one of the few domestic manufacturers of metal acetylacetonates due to their high purity and demanding specification requirements.
“For Edgewater, the acquisition marks an important step in executing our strategic focus in organometallic chemistries and the addition of a proprietary product platform at FAR. Additionally, the AcAc products enjoy a diverse application and end market portfolio and act as a critical component of each customers’ end product,” commented Bob Girton, Principal of Edgewater and Member of the Board of Directors at FAR.
“MacKenzie has earned a strong reputation as a provider of quality metal acetylacetonates, and we are excited at the opportunities this partnership will create for both companies and our valued customers,” said Joe Beatty, CEO of FAR.
“I feel FAR Chemical is an excellent successor to MacKenzie. Their broad manufacturing experience in custom chemicals and dedicated customer focus will serve Mackenzie’s customers very well. In addition, the support from Edgewater Capital Partners will allow our current customers even more opportunities to collaborate and enhance the long and deep relationships that already exist,” said Martin Lapari. President of MacKenzie.
About FAR chemical
FAR is a leading manufacturer of fine and specialty chemical products sold to a variety of industries and applications, including pharmaceutical reagents and intermediates, advanced polymers, organometallics, silane & bromine chemistries, and structural composites. FAR prides itself in its diverse and versatile production assets, its ability to handle difficult and hazardous chemistries with the upmost safety, and its technical capabilities, which enables us to be a valuable partner to our customers’ product or process development. For more information, visit http://far-chemical.com.
About Mackenzie Chemical
Mackenzie was founded by the late Mr. Ian Mackenzie shortly after World War II and has been a leading manufacturer of metal acetylacetonates ever since. In addition to this product line of chemicals, Mackenzie has worked with many large and small companies to help develop new technologies in the areas of nutraceuticals, electron–transfer polymers, resins and nanomaterials.
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. Edgewater is strategic, patient capital looking for opportunities to partner with owner-operators, management teams, and employees in developing, enhancing, and growing market leading businesses. For more information on Edgewater Capital Partners, visit www.edgewatercapital.com.