Clearlake-backed Alkegen completes majority investment in Luyang Energy Savings Materials

• Alkegen creates high performance specialty materials used in advanced applications such as electric vehicles, energy storage, filtration, fire protection and high temperature insulation
• Alkegen has 75 manufacturing facilities operating in 12 countries with 9,000+ employees globally
• Currently, Clearlake has over $72 billion of assets under management.

Alkegen, which is backed by Clearlake Capital, has completed a majority investment in Luyang Energy Saving Materials, a Chinese producer of energy-saving materials. No financial terms were disclosed.

Luyang Energy Savings Material has been partnered with Alkegen since 2015.

On the transaction, John Dandolph, president and CEO of Alkegen, said in a statement: “From the very start of our partnership with Luyang seven years ago, we have been continuously impressed by the Company’s management team and their ability to deliver on financial and commercial performance targets. With this increased investment, we plan to leverage Luyang as our platform in Asia to extend and cross-sell many of Alkegen’s other products and technologies that are core to the strategic direction of our global economy.”

Alkegen creates high performance specialty materials used in advanced applications including electric vehicles, energy storage, filtration, fire protection and high temperature insulation, among many others. Alkegen has 75 manufacturing facilities operating in 12 countries with 9,000+ employees globally.

Clearlake Capital Group, L.P. is an investment firm founded in 2006. The firm’s core target sectors are technology, industrials, and consumer. Currently, Clearlake has over $72 billion of assets under management. The firm is headquartered in Santa Monica, California with affiliates in Dallas London and Dublin, Ireland.