Company News
January 20, 2022
Casper Update
Casper Sleep Inc. Announces Stockholder Approval of Merger Agreement
Wed, January 19, 2022, 4:09 PM·6 min read
NEW YORK, January 19, 2022–(BUSINESS WIRE)–Casper Sleep Inc. (NYSE: CSPR) (“Casper” or the “Company”) announced that its stockholders voted today to adopt the Agreement and Plan of Merger (the “Merger Agreement”), whereby Casper will be acquired by certain subsidiaries of Durational Consumer SPV IV, LP (the “Durational Vehicle”), an investment vehicle managed by Durational Capital Management, LP. According to the preliminary results announced at Casper’s Special Meeting of Stockholders, approximately 69.5% of the vote represented by Casper’s outstanding stock were voted in favor of the Merger Agreement. The final voting results of the Special Meeting, as tabulated by an independent inspector of elections, will be filed as part of Form 8-K with the U.S. Securities and Exchange Commission.
Subject to the satisfaction of certain other closing conditions, the transaction is expected to close during the week of January 24, 2022. Upon closing the transaction, Casper will operate as a privately-held company and will remain based in New York.
About Casper
Casper believes everyone should sleep better. The Sleep Company has a full portfolio of obsessively engineered sleep products—including mattresses, pillows, bedding, and furniture designed in-house by the Company’s award-winning R&D team at Casper Labs. In addition to its e-commerce business, Casper owns and operates Sleep Shops across North America and its products are available at a growing list of retailers.
About Durational Capital Management, LP
Based in New York, Durational Capital Management, LP is an investment firm that invests in high quality consumer companies. Durational approaches its investments with a strategic mindset and focuses on driving long-term value creation through partnership with top tier management teams and actively supporting management to drive operational improvements. The firm was founded in 2017, and its investment professionals have extensive experience investing in the consumer sector. For more information, visit: www.durational.com.
https://finance.yahoo.com/news/casper-sleep-inc-announces-stockholder-210900258.html
January 18, 2022
Schneider To Shutter Canadian Operations
Schneider to shut down Canadian operations
Truckload carrier says being in Canada doesn’t fit with “long-term strategic focus”
Nate Tabak Follow on Twitter Friday, January 14, 2022 1 minute read
Listen to this article 0:00 / 1:47 BeyondWords
Schneider National plans to shut down its Canada-based operations and sell off its single terminal in Ontario, the company said Friday.
The Green Bay, Wisconsin-based trucking and logistics firm said the closure will affect about 150 people, including drivers and other personnel based in Guelph, Ontario. The company plans to wind down operations by the end of March.
“Despite the dedication and best efforts over many years, Canadian-based operations do not fit within Schneider’s long-term strategic focus,” the company said in a statement. “This decision was difficult.”
A company spokesperson declined to elaborate on why it decided to pull out of Canada. But the spokesperson said the vaccine mandates coming for cross-border truckers as well as Canadian carriers regulated by the federal government did not factor into the decision.
Schneider (NYSE:SNDR) will continue to serve Canadian customers through U.S.-based cross-border services. The company plans to transfer its trucks and other equipment to the U.S.
Schneider’s Canadian operation, which provides truckload services, represents a tiny portion of its business. The company brought in $1.1 billion in revenue excluding fuel surcharge in the third quarter.
The FREIGHTWAVES TOP 500 For-Hire Carriers list includes Schneider (No. 7).
January 18, 2022
Schneider To Shutter Canadian Operations
Schneider to shut down Canadian operations
Truckload carrier says being in Canada doesn’t fit with “long-term strategic focus”
Nate Tabak Follow on Twitter Friday, January 14, 2022 1 minute read
Listen to this article 0:00 / 1:47 BeyondWords
Schneider National plans to shut down its Canada-based operations and sell off its single terminal in Ontario, the company said Friday.
The Green Bay, Wisconsin-based trucking and logistics firm said the closure will affect about 150 people, including drivers and other personnel based in Guelph, Ontario. The company plans to wind down operations by the end of March.
“Despite the dedication and best efforts over many years, Canadian-based operations do not fit within Schneider’s long-term strategic focus,” the company said in a statement. “This decision was difficult.”
A company spokesperson declined to elaborate on why it decided to pull out of Canada. But the spokesperson said the vaccine mandates coming for cross-border truckers as well as Canadian carriers regulated by the federal government did not factor into the decision.
Schneider (NYSE:SNDR) will continue to serve Canadian customers through U.S.-based cross-border services. The company plans to transfer its trucks and other equipment to the U.S.
Schneider’s Canadian operation, which provides truckload services, represents a tiny portion of its business. The company brought in $1.1 billion in revenue excluding fuel surcharge in the third quarter.
The FREIGHTWAVES TOP 500 For-Hire Carriers list includes Schneider (No. 7).
January 13, 2022
Perstorp Buys DMPA Business from Geo Specialty Chemicals
GRACE MATTHEWS ADVISES CPS PERFORMANCE MATERIALS ON THE SALE OF ITS DMPA® BUSINESS TO PERSTORP HOLDING AB 
MILWAUKEE (January 13, 2022) – GEO Specialty Chemicals, a subsidiary of CPS Performance Materials, announced that it has sold its Di-Methylolpropionic Acid (DMPA®) business to Perstorp Holding AB. CPS is a portfolio company of Arsenal Capital Partners. Grace Matthews served as financial advisor to CPS Performance Materials and Arsenal Capital Partners.
Di-Methylolpropionic Acid is an additive that enables a technology shift from solvent to waterborne formulations within the polyurethane dispersion and alkyd markets. The acquisition allows Perstorp to grow its position as a sustainable specialty solutions provider to these markets.
“Our strategy is to be the sustainable solutions provider within our focus segments, of which resins and coatings is one. Additives for waterborne resins and coatings technologies are a key area for future growth, and we see great potential in the market for Bis-MPA™ together with the acquired DMPA®. This acquisition will both allow further development of our offering and enable long term investments to safeguard future availability,” says Jan Secher, President and CEO of Perstorp Group.
“We are excited to have found a partner in Perstorp who is committed to supporting the growing demand for DMPA. CPS will continue to focus on building our core businesses and this transaction enables us to streamline our portfolio as we invest in a number of capacity and product expansions throughout the company,” says Jeremy Steinfink, CEO of CPS Performance Materials.
ABOUT CPS PERFORMANCE MATERIALS CPS Performance Materials is a diversified specialty chemicals manufacturer of coatings additives, pharmaceutical intermediates and APIs, chemical illumination solutions, performance polymers, and fine chemicals and intermediates. For more information visit www.cpsperformancematerials.com.
ABOUT PERSTORP HOLDING AB Perstorp, headquartered in Sweden, is a world leader in several specialty chemicals market segments including resins and coatings, engineered fluids and animal nutrition. Perstorp has over 1,400 employees and has manufacturing units in Europe, Asia, and North America. For more information, visit www.perstorp.com. _________________________________________
January 13, 2022
Perstorp Buys DMPA Business from Geo Specialty Chemicals
GRACE MATTHEWS ADVISES CPS PERFORMANCE MATERIALS ON THE SALE OF ITS DMPA® BUSINESS TO PERSTORP HOLDING AB MILWAUKEE (January 13, 2022) – GEO Specialty Chemicals, a subsidiary of CPS Performance Materials, announced that it has sold its Di-Methylolpropionic Acid (DMPA®) business to Perstorp Holding AB. CPS is a portfolio company of Arsenal Capital Partners. Grace Matthews served as financial advisor to CPS Performance Materials and Arsenal Capital Partners.
Di-Methylolpropionic Acid is an additive that enables a technology shift from solvent to waterborne formulations within the polyurethane dispersion and alkyd markets. The acquisition allows Perstorp to grow its position as a sustainable specialty solutions provider to these markets.
“Our strategy is to be the sustainable solutions provider within our focus segments, of which resins and coatings is one. Additives for waterborne resins and coatings technologies are a key area for future growth, and we see great potential in the market for Bis-MPA™ together with the acquired DMPA®. This acquisition will both allow further development of our offering and enable long term investments to safeguard future availability,” says Jan Secher, President and CEO of Perstorp Group.
“We are excited to have found a partner in Perstorp who is committed to supporting the growing demand for DMPA. CPS will continue to focus on building our core businesses and this transaction enables us to streamline our portfolio as we invest in a number of capacity and product expansions throughout the company,” says Jeremy Steinfink, CEO of CPS Performance Materials.
ABOUT CPS PERFORMANCE MATERIALS CPS Performance Materials is a diversified specialty chemicals manufacturer of coatings additives, pharmaceutical intermediates and APIs, chemical illumination solutions, performance polymers, and fine chemicals and intermediates. For more information visit www.cpsperformancematerials.com.
ABOUT PERSTORP HOLDING AB Perstorp, headquartered in Sweden, is a world leader in several specialty chemicals market segments including resins and coatings, engineered fluids and animal nutrition. Perstorp has over 1,400 employees and has manufacturing units in Europe, Asia, and North America. For more information, visit www.perstorp.com. _________________________________________
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