Company News
September 6, 2022
PurEpoxy is Sold
FOR IMMEDIATE RELEASE GRACE MATTHEWS ADVISES PUREPOXY ON ITS SALE TO A.P. NONWEILER 
MILWAUKEE (September 6, 2022) – Vortex Coatings Inc. (“PurEpoxy”), a leading North American concrete coatings manufacturer, and Groupe Distribution Inc. (“Ice Epoxy”), a casting resins provider, have been acquired by A.P. Nonweiler, Co. (“APN”), a manufacturer of specialty coatings and a portfolio company of Renovo Capital, LLC (“Renovo”). Grace Matthews advised PurEpoxy and Ice Epoxy on the transaction.
PurEpoxy formulates and manufactures a focused product line of protective and decorative concrete coatings systems for the residential and commercial markets, selling primarily through a network of distribution partners globally. Ice Epoxy produces a suite of DIY resins for hobby and craft projects.
Erik Gravel, CEO of PurEpoxy, commented, “APN is the perfect partner to enhance our mission to provide the best coatings systems at competitive prices to our customers—we can now leverage a complementary product portfolio, additional manufacturing capacity across two sites to meet the growing needs of our customers, and a more robust supply chain.”
ABOUT PUREPOXY PurEpoxy is a leading North American manufacturer of high-quality liquid polymer products for commercial, industrial and residential projects. Their products are used to make decorative coatings, concrete repair compounds, chips and quartz floor systems. PurEpoxy polyaspartic and epoxy concrete coating systems offer consistency while providing long-lasting durable finishes. For more information visit www.purepoxy.com.
ABOUT A.P. NONWEILER Founded in 1929, A.P. Nonweiler is an Oshkosh, Wisconsin-based coatings manufacturer specializing in difficult-to-produce, specialty and small batch industrial coatings. APN operates out of a 261,000 square foot manufacturing facility, to produce a comprehensive portfolio of industrial coatings products serving a variety of end markets and applications. For more information visit www.apnonweiler.com.
ABOUT RENOVO Renovo Capital is a Dallas, TX – based lower middle market private equity firm comprised of seasoned operating and investing professionals. Renovo makes control investments in technical businesses that have the potential to generate meaningful value through operational improvements and strategic initiatives. Since its founding in 2009, Renovo has completed over 30 transactions and raised over $400 million of committed capital. For more information, please visit www.renovocapital.com.
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ABOUT GRACE MATTHEWS Grace Matthews, Inc., a Milwaukee-based investment bank, provides merger, acquisition and corporate finance advisory services to private and public companies across the chemical and materials value chain. Over the past two decades, Grace Matthews has successfully completed over 200 transactions on behalf of clients ranging from private, middle-market companies to large, foreign or U.S.-based multi-nationals. For more detailed information on Grace Matthews, visit www.gracematthews.com.
September 6, 2022
PurEpoxy is Sold
FOR IMMEDIATE RELEASE GRACE MATTHEWS ADVISES PUREPOXY ON ITS SALE TO A.P. NONWEILER
MILWAUKEE (September 6, 2022) – Vortex Coatings Inc. (“PurEpoxy”), a leading North American concrete coatings manufacturer, and Groupe Distribution Inc. (“Ice Epoxy”), a casting resins provider, have been acquired by A.P. Nonweiler, Co. (“APN”), a manufacturer of specialty coatings and a portfolio company of Renovo Capital, LLC (“Renovo”). Grace Matthews advised PurEpoxy and Ice Epoxy on the transaction.
PurEpoxy formulates and manufactures a focused product line of protective and decorative concrete coatings systems for the residential and commercial markets, selling primarily through a network of distribution partners globally. Ice Epoxy produces a suite of DIY resins for hobby and craft projects.
Erik Gravel, CEO of PurEpoxy, commented, “APN is the perfect partner to enhance our mission to provide the best coatings systems at competitive prices to our customers—we can now leverage a complementary product portfolio, additional manufacturing capacity across two sites to meet the growing needs of our customers, and a more robust supply chain.”
ABOUT PUREPOXY PurEpoxy is a leading North American manufacturer of high-quality liquid polymer products for commercial, industrial and residential projects. Their products are used to make decorative coatings, concrete repair compounds, chips and quartz floor systems. PurEpoxy polyaspartic and epoxy concrete coating systems offer consistency while providing long-lasting durable finishes. For more information visit www.purepoxy.com.
ABOUT A.P. NONWEILER Founded in 1929, A.P. Nonweiler is an Oshkosh, Wisconsin-based coatings manufacturer specializing in difficult-to-produce, specialty and small batch industrial coatings. APN operates out of a 261,000 square foot manufacturing facility, to produce a comprehensive portfolio of industrial coatings products serving a variety of end markets and applications. For more information visit www.apnonweiler.com.
ABOUT RENOVO Renovo Capital is a Dallas, TX – based lower middle market private equity firm comprised of seasoned operating and investing professionals. Renovo makes control investments in technical businesses that have the potential to generate meaningful value through operational improvements and strategic initiatives. Since its founding in 2009, Renovo has completed over 30 transactions and raised over $400 million of committed capital. For more information, please visit www.renovocapital.com.
______________________________________________
ABOUT GRACE MATTHEWS Grace Matthews, Inc., a Milwaukee-based investment bank, provides merger, acquisition and corporate finance advisory services to private and public companies across the chemical and materials value chain. Over the past two decades, Grace Matthews has successfully completed over 200 transactions on behalf of clients ranging from private, middle-market companies to large, foreign or U.S.-based multi-nationals. For more detailed information on Grace Matthews, visit www.gracematthews.com.
August 29, 2022
Congresswoman Scanlon Visits Everchem for a 20th Anniversary Celebration
Pennsylvania Congresswoman Mary Gay Scanlon visited Everchem to help celebrate their 20th anniversary and discuss the issues of the day . . .
August 29, 2022
Congresswoman Scanlon Visits Everchem for a 20th Anniversary Celebration
Pennsylvania Congresswoman Mary Gay Scanlon visited Everchem to help celebrate their 20th anniversary and discuss the issues of the day . . .
August 26, 2022
Recticel Results
Recticel First Half-Year 2022 Results
Regulated information, Brussels, 26/08/2022 — 06:59 CET, 26.08.2022
- Net sales increase from EUR 229.7 million to EUR 274.3 million (+19.4%), of which +15.6% organic growth, +0.6% currency effect, EUR 38.5 million contribution from Trimo, and a EUR 31.0 million drop in sales of chemicals to the divested Automotive companies
- Adjusted EBITDA: from EUR 22.4 million to EUR 29.2 million (+30.3%)
- Result of the period (share of the Group): from EUR 28.0 million to EUR 34.6 million
- Net financial debt: EUR 254.9 million (31 December 2021: EUR 147.8 million; 30 June 2021 : EUR 206.6 million)
Olivier Chapelle (CEO): “We are satisfied with the sales and profitability development of our Insulation activities, in a highly challenging environment characterised by supply chain disruptions, by historical inflation on raw materials, labour, transportation and energy costs, and by economic uncertainties. Volumes have been slightly higher than in 2021, and our business teams have been able to compensate all inflationary pressures during the period. In parallel, our operations teams have displayed high flexibility to accommodate the supply chain challenges.
The first half of 2022 has seen intense M&A activity, with sequentially the closing of the Bedding divestment to Aquinos on 31 March, the closing of the Trimo acquisition on 29 April, the final exit out of the Proseat joint venture on 20 May. The Competition and Markets Authority in the UK has recently decided to refer the divestment case of Engineered Foams to a phase II investigation, with the closing of the transaction now expected latest by the first quarter of 2023.”
OUTLOOK
Our Insulation business continues to perform well in difficult economic circumstances. However, the geopolitical turbulences, supply chain challenges and economic uncertainties prevent us from providing an outlook for the full year at this stage.
https://www.recticel.com/recticel-first-half-year-2022-results.html
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