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Edgewater Capital Partners Acquires ChemQuest Chemicals

MILWAUKEE (October 23, 2015) – Grace Matthews, Inc. and Edgewater Capital Partners, LLC (“Edgewater”), announced today that Edgewater and Clayton (“Clay”) Pace, an experienced chemical industry executive, have acquired a majority interest in ChemQuest Chemicals, LLC.  Mr. Pace will become the new CEO of ChemQuest.  Grace Matthews advised Edgewater and Mr. Pace on this transaction.  Lewis Talbert, the previous owner of ChemQuest, will retain a minority stake in the business and support Mr. Pace.  Financial terms were not disclosed.

Based near Houston in Pasadena, Texas, ChemQuest is a custom blender and value-added supply chain partner for chemical companies serving a broad range of industries, including oilfield, agricultural, water treatment, petrochemicals, and other industrial applications. The company has an excellent reputation as a value‐added distributor offering mixing and blending, repackaging, filling, labeling, palletizing, private labeling and inventory management to a large base of companies throughout the Gulf Region and beyond. 

Edgewater and Mr. Pace recognized ChemQuest as a strong business platform that would benefit from capital investment as well as additional senior management that could broaden ChemQuest’s reach in new markets and regions.  Mr. Pace, an experienced CEO with more than 30 years of chemical industry experience, was an excellent candidate to become the next CEO of ChemQuest.

“ChemQuest has a solid customer base, an excellent reputation in the marketplace, and an experienced team.  This is a great platform for growth,” said Mr. Pace.

“Lewis has done a great job of positioning the business for the next stage of growth since he acquired it three years ago, and we believe that the industry connections and the management skills that Clay brings add tremendous value to the company,” commented Christopher Childres, Managing Partner of Edgewater. “As a private equity group with 16 years’ experience investing in the chemicals industry, we believe that, with our combined leadership and expertise, ChemQuest has great potential going forward.”

Kevin Yttre, Managing Director at Grace Matthews, added: “This is a great outcome for everybody involved.  Lewis is pleased that the company has the additional resources it needs to grow, Clay has the excitement and challenge of a new opportunity, and Edgewater likes the winning combination of strong management and a growth platform that it now has with ChemQuest.  We can’t wait to see what the company will accomplish over the next few years.”

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About ChemQuest Chemicals, LLC
Strategically located near the Port of Houston on the upper Texas Gulf Coast, ChemQuest Chemicals has a long and successful history of providing chemical blending and toll manufacturing services for chemical manufacturers in and around the Bayport Industrial Complex, a designated industrial chemical area.  ChemQuest has expertise in blending and manufacturing aqua ammonia and ammonia-based compounds along with industrial cleaning compounds, water treatment chemicals, liquid phosphates, and chemicals for the petrochemical, agricultural, pulp and paper, metal finishing, and other specialty chemical industries.  ChemQuest is known for the high quality of its products and customer service and its commitment to continuous improvement. For more information, visit www.chemquestchemicals.com.

About Edgewater Capital Partners
Edgewater Capital Partners, based in Cleveland, Ohio, is a size and sector focused private equity firm. For nearly 16 years, ECP has dedicated its investing efforts to lower, middle-market, performance materials companies – specialty chemicals, pharmaceutical ingredients, and engineered substances. Through deep partnerships with superb management teams and knowledge developed through years of successful, industry-focused principal investing, Edgewater has the know-how to cultivate, support, and enhance the growth of its portfolio companies. For more information on Edgewater Capital Partners, visit www.edgewatercapital.com.

About Grace Matthews, Inc.
Grace Matthews, Inc., a Milwaukee-based investment bank, provides merger, acquisition and corporate finance advisory services to private and public companies.  Grace Matthews’ chemical practice is known globally for completing successful chemical industry transactions dating back to the early 1990s.  Grace Matthews’ principals have completed over 100 transactions involving global corporations such as Akzo Nobel, 3M, DuPont, Sherwin-Williams, PPG Industries, Ashland, Ceradyne, DSM, ICI, Borregaard, Air Products, Landec Corporation, The Home Depot, Hexion Specialty Chemicals, Atofina Chemicals, Brush Engineered Materials, Becker Industrial Coatings, RPM International, Courtaulds, Domino Sugar, and Chr. Hansen Laboratories. For more detailed information on Grace Matthews, Inc., visit www.gracematthews.com.

 

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