Resilience Capital Partners Completes Acquisition of SpecialtyChem Products Corp.
CLEVELAND, Nov. 3 /PRNewswire/ -- Resilience Capital Partners (www.resiliencecapital.com), a Cleveland-based private equity firm, has completed the acquisition of substantially all of the assets of SpecialtyChem Products Corporation of Marinette, Wisconsin. SpecialtyChem filed for chapter 11 bankruptcy protection on June 12, 2006. The new company will be known as ChemDesign Products, Inc. Founded in 1983, SpecialtyChem Products is one of the largest independent, custom manufacturers of specialty and fine chemicals in North America. The company manufactures custom and proprietary specialty and fine chemicals for various industries including the specialty paper, polymer, agriculture and other industries in which high performance chemical intermediates are used. "We are thankful to the company's dedicated employees, suppliers and customers for their continued support and commitment to the business. We are excited about the growth prospects of SpecialtyChem and believe that we can help achieve those goals with proper capitalization and support for the organization," said Bassem Mansour, a Managing Partner of Resilience Capital Partners. "We are enthusiastic about our new ownership under Resilience Capital and continue to believe that SpecialtyChem is well positioned to be a leader in the fine and specialty chemical marketplace," said Dave Mielke, President of SpecialtyChem. "SpecialtyChem serves an important niche in the fine chemicals industry with a blue chip customer base. We are highly confident that the Marinette facility can return to the profitable position it had achieved in the past," said Steven Rosen, a Managing Partner of Resilience Capital Partners. About Resilience Capital Partners Resilience Capital Partners is a private equity firm based in Cleveland, Ohio focused on investing in underperforming and turnaround situations. Resilience's investment strategy is to acquire lower middle market companies that have solid fundamental business prospects, but have suffered from a cyclical industry downturn, are under-capitalized, or have less than adequate management resources. Resilience typically acquires companies with revenues of $25 million to $250 million. Resilience manages two private equity funds with capital under management of over $75 million. Since its inception in 2001, Resilience has acquired 11 companies with revenues in excess of $600 million. Contact Information Bassem Mansour Resilience Capital Partners 25201 Chagrin Blvd., Suite 360 Beachwood, OH 44122 216-292-4748 David Mielke President ChemDesign Products, Inc. 2 Stanton Street Marinette, WI 54143 715-735-8267
SOURCE Resilience Capital Partners
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