Shrieve Expands Portfolios with Connection Chemical Acquisition
Deal News | Nov 05, 2024 | Gemspring Capital
Shrieve Chemical Company, a portfolio company of Gemspring Capital, has announced its acquisition of Connection Chemical, LP. Connection Chemical is a notable distributor of industrial chemicals and fine ingredients, known for its robust market presence across the United States. The acquisition is set to enhance Shrieve's product offerings and its global sourcing capabilities. Shrieve's CEO, George Fuller, emphasized the synergy between the two companies and the expected value addition this merger will bring to both customers and suppliers. Frank Farish, President of Connection, expressed confidence in the partnership, anticipating enhanced customer service and supply chain optimization. The financial terms of the deal remain undisclosed. The deal was advised by Truist, and marks a continued effort by Gemspring Capital to support the growth of its portfolio companies.
Sectors
- Chemicals Distribution
- Private Equity
Geography
- United States – The article is focused on companies and operations within the United States, with Shrieve based in Texas and Connection based in Pennsylvania.
Industry
- Chemicals Distribution – The article involves companies in the business of distributing chemicals and fine ingredients. Both Shrieve and Connection operate within this sector, focusing on providing value through extensive product offerings and supply chain innovations.
- Private Equity – Gemspring Capital, the private equity firm backing Shrieve, is a key participant in the transaction, highlighting the role of private equity in enhancing and expanding portfolio company capabilities.
Financials
- Not Disclosed – The financial terms of the acquisition transaction were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Shrieve Chemical Company | Target Company | Company | A value-added chemicals distributor based in The Woodlands, TX, and a portfolio company of Gemspring Capital. |
| Connection Chemical, LP | Acquired Company | Company | A full-service distributor of industrial chemicals and fine ingredients based in Newtown, Pennsylvania. |
| Gemspring Capital | Private Equity Firm | Company | A private equity firm based in Westport, Connecticut with $3.8 billion of capital under management, specializing in middle market companies. |
| Truist | Financial Advisor | Company | Served as the advisor to Connection Chemical during the transaction. |
| George Fuller | CEO of Shrieve Chemical | Person | CEO of Shrieve Chemical, involved in announcing the acquisition. |
| Frank Farish | President of Connection Chemical | Person | President of Connection Chemical and commented on the strategic partnership. |