EagleTree Capital has acquired a majority of Gaylord Chemical Co LLC. Financial terms weren’t announced. Gaylord CEO Paul Dennis, and other existing shareholders, will retain a stake. Alberta Teachers’ Retirement Fund Board and Farol Asset Management are investing in Gaylord alongside EagleTree. Gaylord, of Slidell, Louisiana, is a specialty chemical producer.
Slidell, LA and New York, NY – October 15, 2018 – Gaylord Chemical Company, LLC (“Gaylord” or the “Company”), a global leader in specialty chemical production and innovation, and EagleTree Capital (“EagleTree”), on behalf of its private equity fund EagleTree Partners IV, today announced that EagleTree has acquired a majority stake in Gaylord. The Company’s Chief Executive Officer, Paul Dennis, and other existing shareholders will retain a significant stake in the Company. Co-investors, including the Alberta Teachers’ Retirement Fund Board and Farol Asset Management, are investing alongside EagleTree. Terms of the transaction were not disclosed.
Gaylord Chemical is the world’s premier manufacturer of dimethyl sulfide (DMS) and dimethyl sulfoxide (DMSO), environmentally safe, non-toxic solvents with a variety of commercial applications in agriculture, microelectronics, petrochemical, pharmaceutical and other end markets. Gaylord serves a global customer base in over 40 countries. The Company is headquartered in Slidell, LA with manufacturing operations in Tuscaloosa, AL.
“Our partnership with EagleTree will enable us to leverage their talented team, experience and industry expertise to accelerate our growth. We look forward to collaborating with EagleTree as we further build our sales and marketing resources and production capabilities, while exploring business development opportunities in the U.S. and abroad,” said Mr. Dennis. “We look forward to continuously supporting our valued customers as we embark on this new chapter together.”
“We are thrilled to partner with Paul Dennis and the entire Gaylord team,” said Robert Fogelson, Senior Partner at EagleTree. “Gaylord’s business has tremendous momentum, and we are confident that with our additional resources, the Company will be able to accelerate its growth for the benefit of its customers, partners and employees.”
“DMS and DMSO production and purification requires significant experience and know-how,” said Dr. Rengarajan Ramesh, Partner at EagleTree. “As the world’s premier producer of DMS and DMSO, and with the team’s unique depth of knowledge in the development and application of these versatile solvents, Gaylord is well positioned to build upon its market-leading position as demand for its high quality products continues to grow.”
Lincoln International served as financial advisor and Baker McKenzie LLP served as legal advisor to Gaylord. Jones Day served as legal advisor to EagleTree.
About Gaylord Chemical
Gaylord Chemical Company, LLC is the world’s premier manufacturer of dimethyl sulfide (DMS) and dimethyl sulfoxide (DMSO). It is headquartered in Slidell, LA with manufacturing operations in Tuscaloosa, AL. DMS and DMSO are utilized in a wide range of applications, including agriculture, microelectronics, petrochemical and pharmaceutical. Gaylord is the world’s DMSO technology leader with customers in over 40 countries.
About EagleTree Capital
EagleTree Capital, formerly Wasserstein Partners, is a New York based private equity and investment firm. It manages capital on behalf of global institutional and individual investors. EagleTree’s private equity funds invest primarily in the media and business services, consumer products, and water and industrial sectors. For more information, visit www.eagletree.com.