The deal is predicted to be closed in the first half of 2021 following regulatory approval. | Stock Photo at ShutterStock
The deal is predicted to be closed in the first half of 2021 following regulatory approval. | Stock Photo at ShutterStock
Private Equity Firm One Rock Capital Partners, LLC recently announced that one of its affliates has entered into deals to buy a Kankakee, Illinois company (The Company) that manufactures specialty chemicals and the site it occupies from BASF according to PR Newswire.
"I am glad that, with One Rock Capital Partners, we have found a promising new home for our Kankakee site and the team," Ralph Schweens, President of BASF's Care Chemicals division, said.
The Company is based in Chicago and processes natural raw materials into specialty chemicals to be used for products in a variety of markets including personal care, food, healthcare, and agriculture. It currently employs approximately 160 employees at manufacturing sites around the country.
"During recent years, the Kankakee site has established a strong reputation for delivering natural, high-quality, mission critical products to its global customer base," Tony W. Lee, Managing Partner of One Rock, said. "We look forward to building on its success and providing customers with exceptional service and new innovations."
The deal is predicted to be closed in the first half of 2021 following regulatory approval.
"We're confident that One Rock's expertise in corporate carve out investments, along with the Company's talented employees, will be a powerful combination,” R. Scott Spielvogel, Managing Partner of One Rock said. “Our intention is to transform the business into a strong standalone enterprise poised for significant growth."
One Rock makes control-stake equity investments and brings world-class operational, strategic, and financial resources to middle-market companies in North America. It draws on the expertise of investors and operating partners to identify, acquire and enhance select businesses
It focuses on companies from industries in various sectors including chemicals and process industries, specialty manufacturing and healthcare products, and food manufacturing and distribution.
More information about One Rock can be found at www.onerockcapital.com.
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