The DAK Group, a leading investment bank specializing in middle-market mergers and acquisitions worldwide, announced this week that East Rutherford-based Diamond Chemical Company has partnered with Graycliff Partners, a New York investment firm.
The DAK Group served as the exclusive financial advisor to Diamond Chemical, a national leader in the high-quality industrial and institutional cleaning products space. Diamond produces both organic intermediates and finished products for laundering, housekeeping, warewash, floor care, sanitizing and pool care.
The transaction capitalizes on Diamond’s leadership position in the high-quality industrial and institutional cleaning products space.
Manufacturing over four million pounds of product weekly and serving over 1,000 customers across the U.S. from facilities on the East and West coasts. Founded in 1930 this third-generation business is a mainstay resource with many legacy customers that span decades.
The DAK Group led a highly competitive process garnering much interest from both strategic and financial investors, ultimately Graycliff Partners emerged as the ideal partner.
Diamond CEO Harold Diamond said the partnership makes sense.
“As a third-generation family-owned business, it was important to find a financial partner that understood our history and our vision,” he said. “Graycliff’s approach of providing strategic guidance while allowing us to continue to operate the business and retain our culture resonated with us. We are excited to leverage their experience to take Diamond to our next phase of growth.”
Alan Scharfstein, CEO of The DAK Group, agreed.
“Diamond Chemical is a world class company,” he said. “The investment from Graycliff Partners affords Diamond the opportunity to leverage its existing platform and accelerate the growth of its business.”
