CPS Performance Materials has announced the acquisition of GEO Specialty Chemicals (“GEO”). CPS is a portfolio company of Arsenal Capital Partners (“Arsenal”). The terms of the acquisition were not disclosed.
Diverse Supplier of Specialty Chemicals and Materials
GEO is a diverse supplier of specialty chemicals and materials to the coatings, adhesives, medical, water treatment and construction markets. The company operates in three divisions –
- Paints & Coatings
- Water Treatment
- Specialty & Construction
In the recent past, GEO has undertaken a number of expansions to increase its presence in the attractive markets of materials for contact lenses, additives for oil and gas drilling, and municipal and industrial water treatment. This builds upon GEO’s already strong position in methacrylate chemistry where it is a leading supplier to the global coatings and adhesives markets. GEO is also the largest U.S. producer of glycine, a key amino acid used in a variety of nutrition and personal care products.
Jeremy Steinfink, President and CEO of CPS, said, “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.”
Ken Ghazey, CEO of GEO who will join the Board of Directors of CPS, said, “CPS is a great fit for our employees and business partners. I look forward to working with Arsenal and the CPS team to continue to build the platform.”
Sal Gagliardo, an Operating Partner of Arsenal and the Chairman of CPS, commented, “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.”
Source: CPS Performance Materials