Zinkan Enterprises Transformed into ChemREADY: Acquired by Plexus Capital
Deal News | Feb 18, 2025 | MCM Capital Partners LP
MCM Capital Partners, a Cleveland-based lower middle market private equity firm, has announced the sale of its portfolio company, Zinkan Enterprises, which has been rebranded as ChemREADY, to Plexus Capital, based in Charlotte, NC. Originally acquired by MCM in 2011, Zinkan, a traditional chemical supplier to the coal and mining industries, faced significant market challenges, including legislative changes and a surplus of natural gas. In response, MCM and Zinkan's management repositioned the company to focus on high-value water treatment solutions. This strategic pivot involved divesting non-core coal-related business segments and expanding ChemREADY's presence in the industrial and commercial water treatment sector. This shift not only improved the company's resilience but also enhanced its margins, ultimately positioning it as a leading provider in the water treatment solutions market. ChemREADY's growth was driven by organic marketing strategies and technological advancements, alongside strategic acquisitions that bolstered its market presence. The sale to Plexus marks a successful end to MCM's strategic partnership.
Sectors
- Private Equity
- Chemical Manufacturing
- Water Treatment
Geography
- United States – MCM Capital Partners is based in Cleveland, OH, while Plexus Capital, the acquiring firm, is based in Charlotte, NC.
Industry
- Private Equity – MCM Capital Partners is a private equity firm involved in acquiring and transforming niche companies, including Zinkan Enterprises.
- Chemical Manufacturing – Zinkan Enterprises, rebranded as ChemREADY, was originally a chemical supplier and shifted focus to water treatment solutions.
- Water Treatment – ChemREADY evolved into a key player in the industrial and commercial water treatment sector.
Financials
- – The financial terms of the sale were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| MCM Capital Partners | Private Equity Firm | Company | A Cleveland-based lower middle market private equity firm that specializes in acquiring niche manufacturers and service businesses. |
| Zinkan Enterprises (ChemREADY) | Target Company | Company | A leading provider of chemicals, equipment, and services for water quality processes, rebranded as ChemREADY. |
| Plexus Capital | Acquiring Company | Company | A private equity firm headquartered in Charlotte, NC, that acquired ChemREADY from MCM Capital. |
| Greg Ott | Senior Operating Partner | Person | Senior Operating Partner at MCM Capital, instrumental in the transformation of Zinkan Enterprises into ChemREADY. |