Shrieve Chemical Company a portfolio company of Gemspring Capital and a leading, value-added chemicals distributor, announced that it has acquired TLC Ingredients ("TLC"), a distributor of food ingredients, industrial chemicals, and phenolic resins based in Crest Hill, Illinois. Terms of the transaction were not disclosed.
Founded in 2001, TLC has built a reputation as a premier distributor, distinguished by a dedication to operational excellence, food safety, and responsible distribution. With a class-leading facility in the Midwest, the company is well-equipped to meet the evolving needs of customers with high service levels.
The acquisition expands Shrieve's presence in the Midwest and enhances the company's ability to serve the attractive – and growing – food ingredients end-market. Additionally, it positions Shrieve strategically to leverage its existing product lines to serve TLC's high-growth specialty industrial customers, who have relied on TLC as a trusted supplier of Durez phenolic resins for more than two decades.
"I am thrilled to welcome TLC Ingredients to the Shrieve Chemical family. This acquisition underscores our commitment to excellence and focus on long-term growth as we look to thoughtfully increase our presence and the value-added services we can provide across the country," said George Fuller, CEO of Shrieve. "The TLC team has built an exceptional business with an industry-leading distribution facility, long-standing supplier relationships, and a broad product offering that serves several attractive global end-markets. TLC's expertise, innovative approach, and customer focus aligns very well with our broader strategic vision. Together, we look forward to delivering enhanced value to our customers and supplier partners."
"We are excited about the future as we partner with Shrieve and continue to expand, building on our reputation as one of the highest-quality food ingredient and chemical distributors in the United States," said Tommy Turiff, President of TLC Ingredients. "Our shared commitment to excellence and dedication to our customers make this an ideal partnership. We look forward to bringing our combined expertise and capabilities to the market and continuing to serve our customers with enhanced resources and innovation."
About Shrieve
Shrieve, based in The Woodlands, TX, is a leading, value-added chemicals distributor serving attractive markets and end-use applications globally. Since its founding in 1978, Shrieve has leveraged its knowledge network to find the best match between suppliers, customer needs, and product applications. Through its four operating segments, Chemical Distribution, Specialty Lubricants and Enhancers, Energy Products and Services, and Custom Packaging, Shrieve markets nearly 1,500 products across more than 40 countries.
About TLC Ingredients
Based in Crest Hill, IL, TLC Ingredients is a distributor of food ingredients, industrial chemicals, and phenolic resins. The company was founded in 2001 and provides its customers and suppliers with the highest levels of service. TLC's corporate culture is built on the twin pillars of Food Safety and Responsible Distribution.
About Gemspring Capital
Gemspring Capital, a Westport, Connecticut-based private equity firm with $3.5 billion of capital under management, provides flexible capital solutions to middle market companies. Gemspring partners with talented management teams and takes a partnership approach to helping drive revenue growth, value creation and sustainable competitive advantages. Target companies have up to $500 million in revenue and are in the aerospace & defense, business services, consumer services, financial and insurance services, healthcare services, industrial services, software and tech-enabled services, or specialty manufacturing sectors.