Merit Capital Partners has recapitalized Crown Products & Services, a company specializing in the formulation and application of proprietary specialty chemicals. The Lenox Group advised Crown Products & Services in the deal.
The Lenox Group (“Lenox”) advised Crown Products & Services, LLC (“Crown”) on its recapitalization by Merit Capital Partners. Crown, headquartered in Indianapolis, IN, specializes in the formulation and application of proprietary specialty chemicals involved in the handling of various raw materials for the coal, steel and utility industries. These chemicals are used by Crown customers to facilitate raw material handling during seasonal challenges such as freeze conditioning in the winter and dust mitigation and spontaneous combustion suppression year round. Crown’s founding management team retained significant ownership positions as co-investors with Merit.
Based in Chicago, Merit Capital Partners manages $1.7 billion through five institutionally sponsored limited partnerships investing mezzanine and equity capital in middle-market companies principally in manufacturing, distribution and services industries. Merit focuses exclusively on high-quality, established businesses with carefully conceived operating strategies with a goal of working with committed owners and strong managers to help increase a company’s enterprise value.
The Lenox Group acted as exclusive financial advisor to Crown Products & Services, LLC in connection with this transaction. Barnes & Thornburg LLP acted as legal advisor to Crown. Reinhart Boerner Van Deuren s.c. acted as legal advisor to Merit Capital Partners.
The Lenox Group is an investment bank based in Atlanta that focuses on middle market transactions primarily for private, closely-held businesses. Our services include raising equity and debt capital, M&A advisory and traditional corporate finance advisory, i.e. valuations and fairness opinions.