|FOR IMMEDIATE RELEASE|
|GRACE MATTHEWS ADVISES CHEMSOLV, INC. ON ITS SALE TO OPENGATE CAPITAL|
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| MILWAUKEE (January 11, 2022) – Chemsolv, Inc. (“Chemsolv”), a leading distributor of commodity and specialty chemicals based in Roanoke, VA, has been acquired by OpenGate Capital (“OpenGate”). Grace Matthews advised Chemsolv on the transaction.|
Founded in 1979, Chemsolv is a diversified distributor offering more than 1,000 chemicals including solvents, plasticizers, coolants, lubricants, surfactants, diesel exhaust fluid, additives, and other products. Its customers participate in a variety of end markets such as paints and coatings, construction, energy, chemical intermediates, and transportation. Chemsolv also provides a number of value-added services including solvent recovery, blending, packaging, and formulation support.
Chemsolv will continue to operate under the leadership of its current President, Jamie Austin. “Today represents an important point in Chemsolv’s 40+ year history through our partnership with OpenGate,” said Austin. “Our business is well-positioned for growth and expansion, and we’re looking forward to continuing to serve our customer base.”
“Chemsolv’s entrepreneurial mindset, market expertise and reliability has earned it a strong reputation with its suppliers and customers,” commented Eric Sabelhaus, Director at Grace Matthews. “We look forward to their continued growth and success in partnership with the team at OpenGate.”
ABOUT CHEMSOLV, INC. Chemsolv was founded in November 1979 in Roanoke, Virginia by Mr. Glenn Austin. With its primary operations in the Mid-Atlantic region, Chemsolv is well established as one of the largest distributors in the United States. Chemsolv represents over 100 manufacturers of industrial chemicals, silicones, solvents, lubricants, metalworking fluids, and other specialty products, all of which are supported by a commitment to continuous improvement in its operating practices, and The Responsible Distribution Process of the NACD. To learn more about Chemsolv, please visit www.chemsolv.com.
ABOUT OPENGATE CAPITAL OpenGate Capital is a global private equity firm specializing in the acquisition and operation of businesses to create new value through operational improvements, innovation, and growth. Established in 2005, OpenGate Capital is headquartered in Los Angeles, California with a European office in Paris, France. OpenGate’s professionals possess the critical skills needed to acquire, transition, operate, build, and scale successful businesses. To date, OpenGate Capital, through its legacy and fund investments, has executed more than 30 acquisitions including corporate carve-outs, management buyouts, special situations, and transactions with private sellers across North America and Europe. To learn more about OpenGate, please visit www.opengatecapital.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.