Chemicals & Materials

On April 21, 2022, Prince International Corporation (Prince), a portfolio company of American Securities LLC (American Securities), successfully closed the acquisition of Ferro Corporation (Ferro) and subsequent merger with Chromaflo Technologies Corporation (Chromaflo). KeyBanc Capital Markets acted as Joint Lead Arranger and Joint Bookrunner on the financing which included $2.77 billion of Senior Secured Credit Facilities, comprised of a $325 million Revolving Credit Facility and a $2.445 billion Term Loan B, as well as $756 million of Senior Unsecured Notes. The financing was issued under the entity name, PMHC II, Inc.

Prince is a leading global manufacturer of specialty chemicals, minerals, and industrial additives that specializes in developing, manufacturing, and marketing mission-critical additives. Chromaflo is a manufacturer of liquid colorants and dispersions. Ferro is a supplier of functional coatings and color solutions. The three companies combined create a diversified global chemicals company of scale with exposure to stable and growing end markets. Both Prince and Chromaflo are portfolio companies of American Securities.

On January 3, 2022, KeyBanc Capital Markets (KBCM) successfully closed the syndication of $735 million Senior Secured Credit Facilities (Credit Facilities) in support of SK Capital Partners’ (SKCP) and The Heubach Group’s (Heubach) acquisition of Clariant AG’s Pigments Business (Clariant Pigments). The Credit Facilities are comprised of a $125 million Revolving Credit Facility and a $610 million Senior Secured Term Loan. Proceeds from which will be used to support the acquisition of Clariant Pigments, support ongoing working capital needs, and pay transaction related fees and expenses. KBCM served as Joint Lead Arranger and Joint Bookrunner and was chosen to play a role in the financing due to its longstanding relationship with SKCP, industry expertise and Debt Capital Markets capabilities.

Heubach is a leading global producer of organic, inorganic and non-toxic anti-corrosive pigments. Headquartered in Langelsheim, Germany, the company operates across six plants in India, U.S. and Germany.

Clariant Pigments is a leading global provider of organic pigments, pigment preparations and dyes. Headquartered in Muttenz, Switzerland, Clariant Pigments operates across 13 manufacturing sites, serving over 2,500 customers in more than 100 countries.

SK Capital Partners is a private investment firm based in New York, operating a global portfolio of 21 companies and focusing exclusively on the specialty materials, chemicals and pharmaceutical sectors.

On December 13, 2021, KeyBanc Capital Markets (“KBCM”) successfully advised Spray-Tek, LLC (“Spray-Tek” or the “Company”) on its sale to Aurora Capital Partners (“Aurora”). KBCM was selected to serve as Exclusive Sell-Side Advisor based on its industry-leading Chemicals & Materials Practice, relevant transaction experience and proven M&A execution capabilities.

Spray-Tek is the leading independent provider of specialty spray drying and ingredient processing solutions to the food and beverage, nutritional, pharmaceutical, nutraceutical, beauty & personal care, household products and soft chemical industries. The company was founded in Middlesex, NJ in 1980 and opened its Bethlehem, PA facility in 2002. Spray-Tek offers a wide breadth of spray drying and related ingredient processing capabilities, serving as an integral supplier and partner to its blue-chip customers.

Aurora Capital Partners is a leading private equity firm focused principally on control investments in middle-market companies with leading market positions, stable industry dynamics, attractive business model characteristics and actionable opportunities for growth in partnership with management. Aurora provides unique resources to its portfolio companies through its Strategy & Operations Program and its team of experienced operating advisors. Aurora's investors include leading public and corporate pension funds, endowments and foundations active in private equity investing.

KeyBanc Capital Markets (“KBCM”) successfully advised Ascensus Specialties LLC (“Ascensus” or the “Company”) on its sale to New Mountain Capital (“NMC”) and Wind Point Partners (“WPP”). Ascensus engaged KBCM to serve as its Exclusive Sell-Side Advisor based on its industry-leading Chemicals & Materials Practice, proven M&A execution capabilities and longstanding relationship with WPP.

Headquartered in Bellevue, WA, Ascensus is a leading U.S. based provider of specialty chemicals for use in critical global Life Sciences and Specialties markets and applications. Ascensus is the #1 global producer of Dry Sodium Borohydride, Liquid Sodium Borohydride, Specialty Alcoholates and Specialty Boranes. The Company also provides industry leading technical capabilities and application expertise within its state- of-the-art R&D facilities.

Founded in 1984, Wind Point Partners is a leading private equity firm focused on partnering with top caliber executives to acquire well-positioned middle market businesses to drive maximum value creation. WPP has a proven expertise with Chemicals, Industrial Products, Business Services and Consumer Products.

Founded in 1999, New Mountain Capital is a global alternative investment manager with private equity, credit, public equity and net lease strategies. NMC has a proven expertise in Chemicals, Healthcare and Industrial Services.