MILWAUKEE (December 17, 2012) – Grace Matthews, Inc. (“Grace Matthews”) and Gabriel Performance Products, LLC (“Gabriel”) announced today that Gabriel has acquired select assets of the Capcure® epoxy curative business of BASF. Based in Ashtabula, Ohio, Gabriel is a manufacturer of proprietary, high-performance chemicals and also provides custom synthesis services to the chemical industry. Grace Matthews advised Gabriel on the transaction.
Capcure curatives are mercaptan-based agents used in epoxy curing applications that require rapid room temperature cures. This product line is well known since its inception 45 years ago. “The transaction allows BASF to further optimize its product portfolio after the acquisition of Cognis in 2010 while providing a new level of focus for this historic product family,” said Detleff Ruff, Vice President Global Strategy, New Business and Product Development Dispersions & Pigments of BASF.
Ken Allen, President of Gabriel, commented: “The acquisition reflects Gabriel’s focus on developing comprehensive product lines in areas where we believe we have a core competency. With Capcure, we now can offer our customers a full line of epoxy curing agents that deliver exceptional bond strength and hardness, while offering flexibility on cure times. Cure times can be as fast as 40 seconds or as long as five minutes for rapid-cures, or up to 30 minutes if an application requires it. Few competitors can offer that range of product performance.”
Kevin Yttre, Director at Grace Matthews, agreed, saying “This transaction is a classic strategic play: it enhances Gabriel’s expertise in high-performance, mercaptan chemistry, and expands its access to attractive market niches in automotive adhesives and body repair, construction and civil engineering, coatings, consumer DIY, electronic potting, and marine adhesives.”
ABOUT GRACE MATTHEWS
Grace Matthews, Inc., a Milwaukee, Wisconsin-based investment bank, provides merger, acquisition and corporate finance advisory services to private and public companies. Grace Matthews’ chemical practice is known globally for its expertise in completing successful chemical industry transactions dating back to the early 1990s. Grace Matthews’ principals have completed over 60 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.
ABOUT GABRIEL PERFORMANCE PRODUCTS
Gabriel Performance Products, LLC is an established specialty chemical company that offers an extensive line of proprietary performance chemicals and custom manufacturing services for complex organic chemicals. Gabriel’s core technologies range from epoxy curing agents and cycloaliphatic epoxy resins to specialty lubricants to agricultural and veterinary (AGVET) products. Markets served include adhesives and sealants, aerospace, agriculture, coatings, lubricants, and custom polymers. Gabriel’s manufacturing facility and headquarters are located in Ashtabula, Ohio. The company is ISO 9000, ISO 14000 and ISO 18000 certified, and has received numerous environmental, health and safety awards from the Society of Chemical Manufacturers and Affiliates (SOCMA) and other industry associations.
BASF is the world’s leading chemical company. Its portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. BASF endeavors to combine economic success, social responsibility and environmental protection to enable customers in all industries to meet the current and future needs of society. Through science and innovation, BASF develops products and system solutions that contribute to the conservation of resources, the provision of healthy food and nutrition, and which improve the quality of life. BASF posted sales of about €73.5 billion in 2011 and had more than 111,000 employees at the end of the year. Further information on BASF is available at www.basf.com.
Grace Matthews’ goal is to help business owners, corporate managers, and other stakeholders unlock the value of their businesses by employing strategies that maximize value and achieve other business objectives.