MFG Chemical, a specialty chemical manufacturer of polymers, surfactants and esters, announced today that it has acquired Gulf Bayport Chemicals LP. Headquartered in Houston, TX, with plant operations in Pasadena, TX, GBC is a manufacturer of maleic anhydride derivatives and provides a variety of contract manufacturing, warehouse and transportation services for a range of industrial end markets.
"The acquisition of GBC expands MFG's geographic footprint into the Gulf Coast, demonstrating commitment to our customers in the region," said Keith Arnold, CEO of MFG Chemical. "We are excited for this acquisition and the growth opportunities it will provide to MFG in the future."
The addition of GBC brings a world-class chemical facility in an ideal location in the Houston ship channel area. The site benefits from direct rail access and an extensive utility infrastructure, providing MFG the opportunity to significantly expand its manufacturing capacity.
"GBC has developed a great reputation as a producer of maleic anhydride-based chemicals for customers in various end markets," said CEO of GBC, John Nowlan. "We believe that our capabilities and customer and supplier relationships will complement MFG's strong position in the specialty chemicals market."
About Gulf Bayport Chemicals LP
Headquartered in Houston, TX, with plant operations in Pasadena, TX, Gulf Bayport Chemicals LP is a specialty chemical manufacturer of maleic anhydride derivatives for the epoxy curing, food starch additives, consumer goods, paper, and oilfield industries. In addition, GBC provides a variety of contract manufacturing, warehouse and transportation services for third parties.
About MFG Chemical
Founded in 1981 and based in Dalton, GA, MFG is a specialty chemical manufacturer of polymers, surfactants and esters used in various applications in the oil field, water treatment, mining, coatings, agricultural and other industrial markets. In June 2017, MFG was acquired by Platte River Equity, a Denver-based private equity firm focused on investments in lower middle market companies across various industrial sectors.
About Platte River Equity
Based in Denver, Colorado, Platte River Equity is a private equity firm focused on equity investments from $20 million to $100 million in lower middle market operating companies with enterprise values generally between $40 million and $250 million. The firm invests in sectors where it has deep operating and investing experience, including aerospace & transportation; energy & power; agriculture & chemicals; and metals & minerals. Platte River has raised funds with committed capital in excess of $1.3 billion.
About SOCMA
The Society of Chemical Manufacturers & Affiliates (SOCMA) is part of a $300 billion industry that's fueling the U.S. economy. Our members play an indispensable role in the global chemical supply chain, providing specialty chemicals to companies in markets ranging from aerospace and electronics to pharmaceuticals and agriculture. For more information on becoming a part of this growing and innovative association, visit www.socma.com.
