Altamont Capital Partners said Monday has provided capital to support Douglas Products LLC’s buy of the Vikane and ProFume businesses. Dow AgroSciences, a unit of The Dow Chemical Company, is the seller. Financial terms weren’t announced. Owners Bill Fuller and Wes Long will retain equity stakes.
PALO ALTO, Calif. and LIBERTY, Mo., July 6, 2015 /PRNewswire/ — Altamont Capital Partners (Altamont) announced today that it has provided capital to support Douglas Products, LLC’s (Douglas) purchase of the Vikane and ProFume businesses from Dow AgroSciences (a subsidiary of The Dow Chemical Company; NYSE: DOW). As part of the transaction, Altamont has partnered with Douglas’ management team and owners, Bill Fuller and Wes Long, who will retain significant equity stakes.
Commenting on the transaction, Douglas’ CEO Bill Fuller noted, “Since acquiring Douglas in 2007, we’ve focused on adding new products to expand our specialty chemicals offerings, and the acquisition of Vikane and ProFume will further diversify our business within the pest control and agricultural markets. I’m excited to partner with both Altamont and the dedicated professionals of the Vikane and ProFume business who will be joining Douglas.”
As part of the sale, Douglas acquired a state-of-the-art manufacturing facility. Douglas and Dow have entered into a long-term agreement for Dow to continue to operate the facility on Douglas’ behalf. Douglas’ COO and CFO Wes Long elaborated further: “We believe that this arrangement provides our customers with an ideal outcome: They will receive Douglas’ exceptional customer service while also having the assurance that their product will continue to be produced in the same facility, by the same employees, with the same great quality.”
Randall Eason, Managing Director of Altamont, added, “Douglas has built an impressive business and we believe Vikane and ProFume are great additions. We are excited to partner with Bill, Wes, and the rest of the combined team to consummate this transaction, and continue to develop Douglas into a leading specialty chemicals platform.”
Ropes & Gray LLP advised and represented Altamont and Douglas.
Headquartered in Liberty, Missouri, Douglas Products was founded in 1916 and has grown into a leading manufacturer and distributor of specialty chemical products for pest management, thermal fluids, and sanitary sewer applications. Douglas has developed a long-standing industry reputation for quality products, customer service, and customized solutions.
ABOUT ALTAMONT CAPITAL PARTNERS
ALTAMONT CAPITAL PARTNERS (ACP) is a private equity firm based in the San Francisco Bay Area with over $1 billion in capital under management. ACP is focused on investing in middle market businesses and partnering with leading management teams to help them reach their full potential. The firm’s principals have significant experience building business success stories across a range of industries and transaction types.