The Valence Group Successfully Advises Vertex Chemical Corporation on the Sale of Assets to Hawkins, Inc.
NEW YORK, Jan. 18, 2011 /PRNewswire/ -- The Valence Group today announced that it has successfully advised the Vertex Chemical Corporation on its definitive agreement to sell substantially all the assets of Vertex Chemical Corporation and its affiliates to Hawkins, Inc.
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Michael H. Moisio, Chairman of Vertex commented, "My wife, Lee, and I have operated this family business for the last 32 years and we are very pleased with the opportunity for the Vertex business to increase its growth within the Hawkins organization. We have known and respected Hawkins and its management team for many years. Hawkins has a similar culture to that of Vertex, placing high value on quality and complete customer satisfaction. Both companies are committed to a seamless transition for our customers, suppliers and employees."
Mr. Moisio added, "The advice and guidance we received from The Valence Group, which had been recommended for their unmatched expertise in the field of chemical mergers and acquisitions, greatly facilitated this process for us. We relied on the informed direction and support which The Valence Group provided in this successful transaction."
About Vertex Chemical Corporation
Vertex Chemical Corporation has been a manufacturer of sodium hypochlorite in the central Midwest since 1949. In addition to the manufacture of sodium hypochlorite bleaches, Vertex distributes and provides terminal services for bulk liquid inorganic chemicals, and contract and private label packaging for household chemicals. Corporate headquarters are located in St. Louis, Missouri, manufacturing sites in Dupo, IL; Camanche, IA; and Memphis, TN. Vertex is a Responsible Care member of the American Chemistry Council and the Chlorine Institute.
Hawkins Chief Executive Officer, John R. Hawkins, commented, "We are extremely pleased to be welcoming a company the caliber of Vertex into the Hawkins organization. We believe this transaction will offer significant benefits to our shareholders as we intend to build on Vertex's capabilities, plant sites and employees to broaden the products and services offered to Vertex's current customer base. In addition, this acquisition provides us with an expanded geographic footprint and additional infrastructure to support our strategy of geographic growth for our Water Treatment Group."
About Hawkins
Hawkins, Inc. distributes blends and manufactures bulk and specialty chemicals for its customers in a wide variety of industries. Headquartered in Minneapolis, Minnesota, and with 20 facilities in 11 states, the Company creates value for its customers through superb customer service and support, quality products and personalized applications.
About The Valence Group
The Valence Group is a specialist M&A boutique offering advisory services exclusively to companies and investors in the chemicals, materials and related sectors. The firm has developed broad and deep transactional expertise: sell-side, buy-side, joint venture, private companies, public offers, corporate carve-outs, LBOs and management buy-outs. The founders and senior members of The Valence Group collectively have more than 130 years of transactional experience gained both at major investment banks and within chemical companies. The firm's offices are located in London, New York and Shanghai.
SOURCE The Valence Group
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