has sold select Canadian assets to
Grace Matthews advised Buckman Laboratories International, LLC
Buckman Laboratories is a multinational, privately held water treatment chemicals solutions provider. A portion of the Company's operations in eastern Canada (the Business) provide chemical solutions for a variety of applications including cooling water and boiling water systems and influent / effluent treatment. The Business services customers in the manufacturing, food & beverage, commercial / institutional and power & utilities sectors, among others. Buckman elected to pursue the divestiture of the Business to focus on water treatment and process chemistry for the oil/gas, ethanol, utilities, paper and leather markets. Given the carve-out nature of the transaction, key to buyer interest would be the buyer's ability to utilize their existing infrastructure to manufacture the products of the Business. Therefore, Grace Matthews and Buckman elected to run a highly targeted process to a select number of strategic buyers with a presence in water treatment chemicals. The Business generated a significant level of interest, with Triwater Holdings and its subsidiary Klenzoid Canada prevailing as the buyer. Triwater (backed by JZ Partners and Edgewater Funds) is a holding company that has water industry operations in Canada through its operating company Klenzoid Canada. The transaction was structured as an asset sale and closed in December 2016.