Industry News

Emerald Performance Materials Acquires CVC Specialty Chemicals, a Manufacturer of High Performance Specialty Epoxy Resins, Monomers, and Catalysts

Published on 2008-02-08. Author : SpecialChem

Ohio -- Emerald Performance Materials, LLC ("Emerald"), an affiliated portfolio company of Sun Capital Partners, Inc. ("Sun Capital"), has announced that it has acquired CVC Specialty Chemicals, Inc. ("CVC"), a leader in specialty epoxies, monomers, and catalysts for structural composites, adhesives, coatings and industrial applications. The product lines included in the sale are Epalloy™ Specialty Epoxy Resins, HyPox™ Elastomer Modified Epoxy Resins, Erisys™ Monomers and Modifiers, and Omicure® Catalysts and Accelerators. These product lines will continue to be manufactured at their current locations. Terms of the acquisition were not disclosed.

CVC is a leader in specialty epoxies and related materials. CVC's products are used in high performance applications such as structural composites and adhesives for automotive and aerospace applications; automotive, industrial and marine coatings; electronic circuit boards; sporting goods; and wind energy blades. The privately-held company was founded in 1982 by President and General Manager John Cech, and serves its global customer base from its facilities in Moorestown, NJ.

Peter M. Fielder, VP and General Manager, Emerald Specialty Polymers LLC, stated, "We are very enthusiastic about this strategic acquisition. CVC is an excellent fit for Emerald and complements our Reactive Liquid Polymers ('RLP') product line. Both CVC and RLP are technology leaders offering specialty products for high performance thermoset systems and serve common applications in structural composites, adhesives and coatings. Bringing to market these two product lines provides a real benefit to our customers and an important strategic advantage to Emerald."

John Cech, President and General Manager, CVC Specialty Chemicals, Inc., added, "I am proud of the legacy of CVC and the successes we have had over the last 25 years since our inception. However, we have determined that the best path forward is to join forces with a company that has the financial and operating resources to allow us to realize our strategic potential. We could not have found a better partner than Emerald. I am excited about the growth opportunities and operating efficiencies that we will obtain by combining complementary technology and applications know-how with Emerald's Specialty Polymers business."

The CVC acquisition is the latest development in Sun Capital's commitment to growing the Emerald franchise. Christopher H. Thomas, Vice President, Sun Capital Partners, Inc., commented, "The addition of CVC to Emerald's portfolio of specialty chemical businesses augments an increasingly-broader mix of product offerings and strengthens Emerald's value proposition. We look forward to working with Emerald's management team in further developing its portfolio through organic growth and add-on acquisitions."

About Emerald Performance Materials, LLC:

Emerald Performance Materials, LLC is a leading manufacturer of chemical additives and polymers used in diverse consumer and industrial products around the world. Its products play a variety of roles in the products that are consumed and used every day enabling them to last longer, look, smell, taste or perform better. Emerald products are used in aerospace, food, beverages, cosmetics, toothpaste, household products, paint, tires, automobiles, sports gear and many other applications. Headquartered in Cuyahoga Falls, Ohio, Emerald has six operations and over 600 employees.

About Emerald Specialty Polymers, LLC:

Emerald Specialty Polymers, a division of Emerald Performance Materials, is a leading manufacturer of Reactive Liquid Polymers, Nitrile, and other Specialty Emulsions. It has manufacturing operations in Akron, Ohio, and markets its products globally, both direct and through regional distribution partners. The Hypro™ Reactive Liquid Polymers are used as additives to significantly enhance the adhesion, toughness, durability and low temperature performance of thermoset resin systems. Automobile and aircraft frames, corrosion resistant pipes and valves, graphite golf club shafts and tennis racquet frames, electronic laminates, jet skis and marine hulls are just a few of the applications that benefit from the addition of Hypro™ RLP in their resin and adhesive formulations.

About Sun Capital Partners, Inc.:

Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buy-outs, equity, debt and other investments in market-leading companies that can benefit from in-house operating professionals and experience. Sun Capital affiliates have invested in and managed more than 180 companies world-wide with combined sales in excess of $35.0 billion since Sun Capital's inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles and New York, as well as affiliates with offices in London, Tokyo, and Shenzhen.

Source: Emerald Performance Materials, LLC

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