Industry News

The Jordan Company's Resolute Fund Acquires Haas TCM, Inc.

Published on 2008-02-07. Author : SpecialChem

New York, NY -- The Jordan Company, L.P. ("Jordan") has announced that The Resolute Fund, L.P. ("Resolute") acquired Haas TCM Inc. (the "Company" or "Haas") on 31st December , 2007. The Haas investment expands and diversifies Jordan's existing chemical management service ("CMS") platform, ICMS Holdings, Inc. (d/b/a "Avchem"), which Resolute acquired in August 2006.

Haas , headquartered in West Chester, Pennsylvania, provides chemical lifecycle management services to over 250 customer locations in the US, Canada, Mexico, Argentina, Brazil, Ireland, United Kingdom, France, Netherlands, Poland, Romania, Italy, Turkey, Israel, and China. Current customers are in the aerospace, automotive, electronic, government, semiconductor, defense, transportation, industrial manufacturing, food and beverage, process and energy industries.

Avchem , headquartered in St. Louis, Missouri, enables its customers to outsource the process associated with obtaining, handling, tracking, and disposing of chemical products and other regulated materials. The company primarily services the aerospace industry where numerous chemicals such as paints, primers, sealants, adhesives, cleaners, solvents, and lubricants are used in the manufacture and maintenance of aircrafts.

"We view chemical management as a vital component of global industrial growth in the coming decades" said Jeb Boucher, Managing Principal of Jordan. "Chemicals are essential components of virtually every industrial process - almost always incorporated into the final product, yet very seldom a core capability of the user. A growing list of industrial companies, government agencies and other users of chemical products are recognizing the benefits of outsourcing the procurement, management and disposition of chemicals to companies such as Haas where chemicals are, in fact, core."

Jordan expects to work with the Haas/Avchem management team to build the Company both internally and through strategic acquisitions.

The Jordan Company, L.P. is a private investment firm that specializes in buying and building companies in partnership with management. Jordan and their affiliated entities have completed more than 300 acquisitions since they began investing in 1974. Jordan has over $5 billion in capital under management

Source: The Jordan Company

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