CPS Performance Materials, a specialty chemicals manufacturer based in Bound Brook and portfolio company of New York, New York-based Arsenal Capital Partners, announced Tuesday it has acquired Ambler, Pennsylvania-based GEO Specialty Chemicals.
GEO, which has 19 production sites in the United States and Europe, is a supplier of specialty chemicals and materials for the coatings, adhesives, medical, water treatment and construction industries. It is also the largest U.S. producer of glycine, an amino acid used in a variety of nutrition and personal care products.
“GEO significantly adds to the scale of CPS and positions us well in a number of growing end markets. Our strategy will focus on investing in GEO’s businesses which complement many of CPS’s existing positions in attractive end markets such as CASE additives, specialty chemicals for pharma and medical uses, nutrition, personal care and a wide range of industrial applications. We see opportunities to expand across the portfolio where we can leverage our chemical expertise and continue to be a reliable commerical partner,” Jeremy Steinfink, CEO and president, CPS, said.
Under terms of the deal, Ken Ghazey, CEO of GEO, will join the board of directors at CPS.
“The addition of GEO to CPS builds on our strategy to expand the breadth of our specialty chemicals platform with highly complementary capabilities and resources. The acquisition strengthens CPS’s technology offerings to both GEO’s and CPS’s customers and positions CPS for significant growth. We are delighted to have the GEO team join CPS,” Sal Gagliardo, an operating partner of Arsenal and the chairman of CPS, said.
The Valence Group acted as financial advisor to Arsenal and CPS. Financial terms were not disclosed.
