UI's products are highly essential ingredients for many applications and products within daily life including hair bleaching, disinfection, denture cleaning and tooth whitening. Industrial applications comprise, polymer manufacturing and processing, etching of printed circuit boards, chemical synthesis, oil and gas exploration, soil remediation and many more.
About Speyside Equity
Formed in 2005, Speyside employs an operationally intensive approach to investing in manufacturing businesses. We have particular experience in specialty chemicals, industrials/metal forming & food ingredients businesses. Wetarget companies with a history of strong revenue, a defensible position in their respective markets, and a core group of managers that can move the business forward. Speyside prefers situations where there are opportunities to leverage its operating expertise to improve financial performance and create sustainable long-term value.
Since its formation, Speyside has successfully executed numerous platform investments and add-on acquisitions using its own capital. Speyside Equity Fund I LP, a $130 million special situations fund will continue the disciplined investment approach that Speyside has successfully executed for the past 11 years. speysideequity.com
Speyside Equity acquired the company from Evonik Industries in 2008. Speyside steered the company through the financial crisis, and partnered with Vision Capital in 2011.
Robert Sylvester, Partner at Speyside Equity, concluded: "United Initiators represents in exemplary fashion what we try to achieve at the Speyside group with portfolio companies: resolve internally-induced operational issues to achieve substantial margin improvement on par or above the industry average, and thus create material value."
Ed Hoozemans, CEO of United Initiators, commented: "On behalf of the entire firm I would like to express my gratitude to Vision Capital and Speyside for supporting our success over the past years. We are now really looking forward to the partnership with Equistone, a capital-strong, experienced and successful mid-market investor. Together we can take the next steps to achieve further expansion of United Initiators' presence in core Western and Asian markets, as well as expand our product and application range."
Dr. Marc Arens, Partner at Equistone, the buyer group, said: "With strong technological and innovation know-how, excellent customer relations and a history of more than a hundred years, United Initiators has established a leading global market position. With our extensive expertise in the manufacturing and specialist engineering sector, together with the management and the staff of United Initiators we want to capitalise on new opportunities and develop the company's presence even further. "
The financial terms of the deal are undisclosed.
New York, NY 10036
O: +1 212-994-0308 x202
M: +1 917-575-6866
24 Frank Lloyd Wright Drive
Ann Arbor, MI 48105
O: +1 855-233-5695
M: +1 734-674-1865
Logo - http://photos.prnewswire.com/prnh/20160513/367509LOGO
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/speyside-sells-its-remaining-stake-in-united-initiators-300340796.html
SOURCE Speyside Equity