CHEMICAL MANAGEMENT

PPG Completes Acquisition of Coatings Manufacturer VersaFlex

PPG Industries | February 22, 2021

PPG (NYSE:PPG) today announced that it has completed its acquisition of VersaFlex from DalFort Capital Partners. VersaFlex specializes in polyurea, epoxy and polyurethane coatings for water and wastewater infrastructure, flooring, transportation infrastructure, and industrial applications. Financial terms were not disclosed.

VersaFlex is an aggregation of four U.S.-based protective coatings companies, consisting of legacy VersaFlex, Raven Lining Systems, Milamar Coatings and Specialty Products, Inc. The company has approximately 130 employees and three manufacturing sites located in Kansas, Oklahoma and Washington. Its full year 2020 revenue was approximately $70 million.

PPG: WE PROTECT AND BEAUTIFY THE WORLD™

At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and materials that our customers have trusted for more than 135 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 70 countries and reported net sales of $13.8 billion in 2020. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.

About DalFort Capital Partners

DalFort Capital Partners is a sector-focused investment firm based in Dallas, Texas, specializing in partnering with entrepreneurs and management teams in the lower middle market. The company works collaboratively to strengthen a company's strategic and financial position through operational improvements and acquisitions of complementary businesses. DalFort specialize in identifying and executing strategic add-on acquisitions for our portfolio companies that enhance the company's relationship with existing customers and expand its reach into new geographies or market niches.

Spotlight

Global chemicals industry deal activity continues to be aided by strong performance of Specialty Chemicals sub-sector, which also recorded most of the megadeals in this quarter. The anticipation of strong cash flow as a result of lower corporate taxes in the US increased investment sentiment of strategic buyers. On the other hand, high valuation multiples, rising interest rates, and geopolitical concerns have kept private equity investors at bay despite record high dry powder.

Spotlight

Global chemicals industry deal activity continues to be aided by strong performance of Specialty Chemicals sub-sector, which also recorded most of the megadeals in this quarter. The anticipation of strong cash flow as a result of lower corporate taxes in the US increased investment sentiment of strategic buyers. On the other hand, high valuation multiples, rising interest rates, and geopolitical concerns have kept private equity investors at bay despite record high dry powder.

Related News

CHEMICAL MANAGEMENT

Smart Plastic Technologies and Munchkin® announce exclusive joint development partnership

Smart Plastic Technologies | January 27, 2022

Aligned on the growing importance of environmentally responsible products in the baby and toddler market, Smart Plastic Technologies and Munchkin, Inc. announced today that they have signed an exclusive joint development agreement to create baby lifestyle products using Smart Plastic's patent-pending ECLIPSE™ technology. This partnership will introduce revolutionary consumer goods to the baby and toddler market, which is estimated to be worth USD 25 billion by 2028. "Plastic waste is a planetary and societal crisis. Munchkin grasps the gravity of our global environmental situation. Our partnership with Munchkin, an influential and respected market and thought leader in semi-durable consumer goods, will directly result in a significant reduction of plastic waste and help reverse the damage that has been done to our environment." Jay Tapp, President & COO of Smart Plastic Technologies Steven Dunn, CEO & Founder of Munchkin, added "Through our partnership with Smart Plastic, Munchkin is committed to a development process that considers the complete use and lifecycle of our products from ideation to disposal. The goal of our partnership is to make as many Munchkin products as possible disappear after their useful life. With Smart Plastic's SPTek ECLIPSE™ technology, our products can still be recycled, but if they find their way into landfills or waterways, they fully break down resulting in zero microplastics. Now is the time to act. Our planet, our children, and their children need us to make the change now." Approximately 91% of plastic is not recycled and ends up in our forests, oceans, and landfills for generations. Understanding the urgency to create a higher level of awareness and a 'call to action,' the partnership between Smart Plastic and Munchkin will lead the way for companies in every aspect of the supply chain. Each organization sees the need to adopt circular economic models for the betterment of our planet and will leverage the expertise on both sides to have the ultimate impact. This strategic partnership contributes to each company's impactful approaches and commitments to the United Nations' Sustainable Development Goals. Tim Murtaugh, CEO & Founder of Smart Plastic Technologies, also commented "Our strategic partnership with Munchkin represents another important step in Smart Plastic's mission to join forces with leading companies on our journey to create a legacy of true global sustainability. We are delighted to have this opportunity to build a strong working relationship with a company that enjoys a global reputation for quality products and brilliant leadership. The adventure continues!" About Smart Plastic Founded in 2016, Smart Plastic is revolutionizing the potential of plastic to improve the environment for future generations. Their flagship bio-assimilation technology, SPTek ECLIPSE™, enables polyolefins like polyethylene and polypropylene to completely bio-assimilate at the end of the pre-programmed functional life, resulting in zero microplastics. This represents a key and critical aspect of the company's commitment to plastic lifecycle management. All Smart Plastic technologies are designed to alter the very nature of plastic for the benefit of both people and the planet. Proudly made in the United States, all Smart Plastic products are 100% recyclable, FDA approved, and purposely designed for the circular and regenerative economies. About Munchkin Munchkin, Inc., is based in Los Angeles, California and has provided parents with innovative products for over 30 years. A global leader in children's feeding & care products, Munchkin has 303 patents to date and has earned more than 180 international product and brand design awards in the past several years alone. As a member of the United Nations Global Compact, Munchkin's ongoing commitment to environmental protection and animal welfare is reinforced through its numerous corporate social responsibility initiatives and its annually published Sustainability Report. Munchkin products are sold in more than 45 countries around the world and have received over 1 million five-star reviews. Munchkin is on a mission to be the most loved baby lifestyle brand in the world.

Read More

CHEMICAL TECHNOLOGY

E Ink Announces Pledge to Reach Net Zero Carbon Emissions By 2040

E Ink | December 28, 2021

E Ink, the originator, pioneer, and global commercial leader in digital paper technology, pledged on December 23 to achieve Net Zero Carbon Emissions by 2040. E Ink has been working for several years towards zero carbon emissions to help mitigate the impact of climate change and to promote sustainable technologies. E Ink has a three phase plan to reach their commitment of Net Zero Carbon Emission by 2040. In the first phases, E Ink aims to achieve 40 percent of renewable energy use by 2025 and 100 percent renewable energy use to implement the RE100 target by 2030. According to the evaluation of the FTSE Russell Green revenue 2.0 Data Model1 under the Energy Management Efficiency IT Process sub-sector, E Ink was identified as having 99.93% of Green Revenue in 2020 and has a positive impact on the environment, highlighting the environmental benefits of ePaper products. To achieve the goal of net zero carbon emissions, E Ink has not only implemented measures on technologies and products, but has also conducted an investigation to assess the greenhouse gas generated by all sites globally. Indirect carbon emissions from energy use in operations and manufacturing account for a significant portion of E Ink's total carbon emissions within the company. Therefore, using renewable energy will be the key to realize net zero carbon emissions. In addition to increasing the proportion of renewable energy use year over year, E Ink will also improve energy use efficiency and reduce the overall energy use and consumption of environmental resources in product development, manufacturing, and corporate operations. "The impact and threat of climate change on the environment will be a challenge faced by the world. As a global citizen, E Ink has implemented a zero carbon emission plan on manufacturing and operation, and is also committed to carbon reduction throughout ePaper technology development and product design. Focusing on even lower energy consumption and material use allows the low-carbon and energy-saving ePaper technology to realize its environmentally friendly potential. We are also working with our ecosystem and supply chain partners to take actions on reducing their carbon emissions to fulfill our responsibilities as global citizens through the net zero carbon emission initiatives.” the Chairman of E Ink, Johnson Lee In addition to launching the net zero carbon emission initiatives within the company and the ePaper ecosystem, E Ink has also participated in advocacy organizations dedicated to environmental sustainability. In October 2021, E Ink became a Task Force on Climate-Related Financial Disclosures Supporter. It will follow the TCFD framework to identify risks and opportunities of climate change, and introduce scenario analysis of physical risks and transformation risk to adapt the net zero carbon emission strategy and plan with quantitative indicators. In the future, E Ink also plans to participate in organizations such as RE100, SBTi and related initiatives to declare commitment to "Net Zero Carbon by 2040". About E Ink Holdings E Ink Holdings Inc. based on technology from MIT’s Media Lab, has transformed and defined the eReader market, enabling a new multi-billion dollar market in less than 10 years. E Ink’s low power products are ideal for IoT applications ranging from retail, home, hospital, transportation and more, enabling customers to put displays in locations previously impossible. The Company’s corporate philosophy aims to deliver revolutionary products, user experiences and environmental benefits through advanced technology development. This vision has led to its continuous investments in the field of ePaper displays as well as expanding the use of its technologies into a number of other markets and applications including smart packaging and fashion. Its Electrophoretic Display products make it the worldwide leader for ePaper. Its Fringe Field Switching technologies are a standard for high-end LCD displays and have been licensed to all major liquid crystal display makers in the world. Listed in Taiwan's Taipei Exchange and the Luxembourg market, E Ink Holdings is now the world's largest supplier of ePaper displays.

Read More

CHEMICAL TECHNOLOGY

Basin Water Resources, LLC Enters into Partnership with AFCO 360 to Expand Services in Louisiana

Basin Water Resources LLC & AFCO 360 | October 05, 2021

Basin Water Resources, LLC (BWR) today announced the signing of an exclusive agreement with AFCO 360, LLC (AFCO). The collaboration combines AFCO's market leading service and wastewater solutions with BWR's established Filtration and Separations Packaged Systems and Mobile Water Services to help customers better manage full life cycle industrial water treatment. Under the agreement, AFCO will lead the exclusive sales and implementation of BWR's Filtration and Separations Packaged Systems and Mobile Water Services in the Louisiana Industrial Markets. BWR's established resources provide additional strength to further hi-tech water filtration and purification systems to projects throughout the region. "AFCO's wastewater treatment systems, industry-leading service, and site support in Lake Charles, LA and across the region is a natural fit with BWR's extensive Filtration and Separation Packages and Mobile Water Equipment portfolio,The industrial water business has long been a business of personal relationships and with this a unique opportunity positions BWR and AFCO as leaders in delivering best-in-class customer service for numerous refining and petrochemical clients in the region." -Al Christopher, BWR's Gulf Coast Director of Business Development. "We worked with BWR during the Freeze of 2021 to provide Mobile Reverse Osmosis Systems to chemical processing clients in Lake Charles, LA and we were more than pleased with rapid response, equipment design, and service expertise," said Adrian Logan. "This partnership leverages the resources of each party, allowing more product solutions into new market segments. It's a true win-win partnership that also expands the production and distribution reach of both parties." About Basin Water Resources, LLC From conception, operation, and rapid response, BWR focuses on five main business units: Design & Manufacture, Mobile Water Services, RO Membrane Cleaning & Support, Retrofits & Controls Upgrades, and Chemical Treatment Solutions. We work with a wide range of industries from Refining, Petrochemical, Power, Mining, Gas Processing, and other industrial water users. For more information visit www.bwrgroupllc.com. About AFCO 360, LLC AFCO specializes in equipment and technology that is designed for reduction and waste treatment and is enhanced by our experienced technical support and chemical expertise team. AFCO's approach, from foundation to discharge and disposal, aims to focus on our customer's objectives by tailored equipment, product knowledge, and technical support for prescribed solutions.

Read More