MILWAUKEE (October 3, 2017) – Grace Matthews, Inc. and CiDRA Holdings LLC are pleased to announce the sale of CiDRA Chemical Management Inc. (“CCMI”). On September 30, Connecticut-based technology innovation leader CiDRA Holdings LLC divested its CCMI business, a wholly owned subsidiary of CiDRA Holdings LLC, to Buckman Laboratories. Grace Matthews, a Milwaukee-based investment bank, advised CiDRA on this transaction.
As part of the transaction, Buckman will have a global, exclusive, and perpetual license to a family of CCMI’s intellectual property, including patents for measuring entrained air in the paper, pulp, biorefining, bioprocessing and ethanol industries. This technology is non-intrusive, provides real-time continuous data and requires no downtime to install. Importantly, the data it provides enables manufacturers to reduce the amount of variability in certain aspects of their manufacturing process.
For the last 20 years, CiDRA’s mission has been to deliver game-changing technologies that provide accurate, real-time data that can be used to optimize industrial processes, maximize recovery and reduce costs. Referring to the transaction, Kevin Didden, President and CEO of CiDRA, said “Buckman is an organization that can rapidly expand the global reach of the innovative CiDRA solution via its worldwide footprint. We are very excited to support Buckman in this new endeavor and look forward to a long-term partnership. Buckman has the values, capabilities and leadership that CiDRA felt were critical to take the CiDRA solution to a global level.”
“The acquisition of CCMI is very much in line with the vision for the future of Buckman,” says Junai Maharaj, CEO and President of Bulab Holdings Inc., which wholly owns Buckman. “We are a privately-owned company with a global footprint, and our size affords us the agility and ability to quickly adopt innovative, smart solutions for our customers. But the real value comes from being able to leverage smart technology with our proven chemical applications, advanced monitoring systems and dedicated, experienced people to deliver a solution specific to the customer that improves their operations, productivity and performance.”
“Our firm worked closely with the CiDRA and CCMI management teams to find a partner for CCMI that could bring a full suite of water treatment chemicals to complement and build on the technology offering developed by CiDRA,” Kevin Yttre, President of Grace Matthews, commented. “We are pleased that this transaction combines these two unique and well-respected companies.”
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ABOUT CIDRA
Headquartered in Wallingford, Connecticut, USA, with an increasing international presence, CiDRA is a trusted partner and leading supplier of highly differentiated process optimization and enhanced recovery solutions and services to many of the world’s largest industrial markets, including minerals processing, mineable oilsands, dredging, concrete and power generation. CiDRA’s products and services, deployed in over 5,000 installations across more than 45 countries, enhance process control and material recovery, while maintaining safety in all workplaces. Additional information can be found at www.cidra.com.
ABOUT BUCKMAN
Buckman is a privately held, global specialty chemical company with headquarters in Memphis, Tennessee, USA. Buckman works proactively and collaboratively with worldwide customers in pulp and paper, leather and industrial water treatment and process chemistry to deliver exceptional service and innovative specialty chemical solutions. Buckman’s goal is to help customers boost productivity, reduce risk, improve product quality and provide a measurable return on investment. Buckman is committed to safeguarding the environment, maintaining safety in the workplace and promoting sustainable development, for its associates, its customers and the communities it serves in more than 90 countries around the world.
ABOUT GRACE MATTHEWS
Grace Matthews, Inc. is a Milwaukee, Wisconsin-based investment bank that 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 100 transactions involving global corporations such as Akzo Nobel, 3M, Lubrizol, BASF, DuPont, Sherwin-Williams, PPG Industries, Ashland, W.R. Grace, Ceradyne, DSM, ICI, Borregaard, Air Products, Landec Corporation, The Home Depot, ITW, Hexion Specialty Chemicals, Atofina Chemicals, Brush Engineered Materials, Becker Industrial Coatings, RPM International, Weatherford International, Hempel, PolyOne, Evonik Industries, Courtaulds, Domino Sugar, and Chr. Hansen Laboratories. For more detailed information on Grace Matthews, Inc., visit www.gracematthews.com.