One Rock Capital Partners LLC has acquired Greenville, South Carolina-based Process Solutions, a manufacturer and material sciences company. The seller was Newell Brands. No financial terms were disclosed.
NEW YORK, May 1, 2019 /PRNewswire/ — One Rock Capital Partners, LLC (“One Rock”) today announced that one of its affiliates has successfully completed the previously announced acquisition of Process Solutions, formerly of Newell Brands.
Headquartered in Greenville, South Carolina, Process Solutions is a manufacturer and material sciences company that offers custom-designed plastic, nylon, monofilament and zinc products in the health care, consumer, and industrial end markets. By leveraging its value engineering and manufacturing technology, the business services a wide variety of commercial industries and customers, as well as governmental agencies globally. Process Solutions is also the primary supplier of copper-plated zinc penny blanks to the United States Mint as well as a supplier of coinage to other countries.
Tony W. Lee, Managing Partner of One Rock, commented, “We are pleased to collaborate with the Process Solutions team and our Operating Partners to execute on strategic initiatives aimed at enhancing the company’s high-quality product offerings, deepening its global customer relationships, and instilling operational excellence throughout the business.”
One Rock Managing Partner R. Scott Spielvogel added, “The acquisition of Process Solutions represents a prime example of our corporate carve-out expertise and ability to identify high-potential standalone businesses in the specialty manufacturing sector. We look forward to working alongside management to capitalize on the significant growth opportunities ahead.”
“In combining the knowledge and resources of One Rock with our increased focus as a standalone business, we are confident in our ability to better provide existing customers with the innovative products they have come to expect from Process Solutions, while growing our base of blue-chip customers around the world,” said Chuck Villa, Chief Executive Officer, Process Solutions.
ABOUT PROCESS SOLUTIONS
Process Solutions is a manufacturer and material sciences company that offers custom-designed plastic, nylons, monofilament, and zinc products that solve both industrial and consumer challenges. The business is a primary source supplier of copper-plated zinc penny blanks to the United States Mint, as well as a supplier of coinage to other international markets. Process Solutions operates out of 19 facilities across the US, UK and Puerto Rico and has approximately 1,800 employees.
ABOUT ONE ROCK CAPITAL PARTNERS, LLC
One Rock makes controlling investments in companies with potential for growth and operational improvement using a rigorous approach that utilizes highly experienced Operating Partners to identify, acquire and enhance businesses in select industries. The involvement of these Operating Partners affords One Rock the ability to conduct due diligence and consummate acquisitions and investments in all types of situations, regardless of complexity. One Rock works collaboratively with company management and its Operating Partners to develop a comprehensive business plan focused on growing the enterprise and its profitability to enhance long-term value. For more information, visit www.onerockcapital.com.