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
"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
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.
Resilience Capital Partners
25201 Chagrin Blvd., Suite 360
Beachwood, OH 44122
ChemDesign Products, Inc.
2 Stanton Street
Marinette, WI 54143
SOURCE Resilience Capital Partners