PE-backed Shrieve buys CLP’s styrene business unit

Shrieve Chemical Company, a portfolio company of Gemspring Capital, has acquired the styrene business unit and other assets from CLP Chemicals.

Shrieve Chemical Company, a portfolio company of Gemspring Capital, has acquired the styrene business unit and other assets from CLP Chemicals. No financial terms were disclosed.

PRESS RELEASE

THE WOODLANDS, TX, October 7, 2020 – Shrieve Chemical Company (“Shrieve”), a portfolio company of Gemspring Capital, announced today that it has acquired the styrene business unit and other assets from CLP Chemicals (“CLP”), a market-leading industrial chemical distributor based in Houston, Texas. Founded in 1991 and led by Chris Parker and John Spence, CLP specializes in distribution of styrene, acrylates, acetic acid, glycerin and other niche chemicals. CLP will retain and continue to operate its glycerin business unit.

“With its commitment to customer service and long-standing supply relationships, CLP is a compelling strategic fit with Shrieve. We are excited to partner with Chris, John and the CLP team as part of our strategic plan to grow Shrieve’s product portfolio and geographic footprint to serve growing global demand for specialty chemicals,” said Ted Threadgill, Chief Executive Officer of Shrieve.

“The combination with Shrieve is an exciting inflection point for the platform CLP has built in styrene, acrylates and acetic acid. With Shrieve’s support, we are excited to offer our customers a substantially expanded product slate and serve new customers with the same leading customer service the market has come to expect from CLP. We are excited for the growth opportunities this combination presents for our customers, employees and suppliers,” said Chris Parker, President of CLP Chemicals.

About CLP Chemicals
CLP Chemicals is an industrial chemical distributor based in Houston, Texas. Focused on serving niche end-markets, CLP is known for its differentiated product slate and strong relationships with customers and suppliers in the chemicals market. For more information, visit www.clpchem.com.

About Shrieve
Shrieve, based in The Woodlands, TX, is a value-added marketer of industrial chemicals, performance fluids and specialty lubricants. The company markets and sells over 700 products into more than 40 countries from over 600 suppliers with support from manufacturing and research and development facilities in North America and Asia. Since its founding in 1978, Shrieve has been known for its market knowledge, consistency of supply, exceptional customer support and service, broad product slate and logistics capabilities. For more information, visit www.shrieve.com.

About Gemspring Capital
Gemspring Capital, a Westport, Connecticut-based private equity firm with $1.1 billion of capital under management, provides flexible capital solutions to lower middle market companies headquartered in the United States and Canada. Gemspring partners with talented management teams and takes a partnership approach to helping drive revenue growth and value creation. Target companies have up to $500 million in revenue and are in the business services, distribution and logistics, financial and insurance services, healthcare services, industrial services, software and tech-enabled services or specialty manufacturing sectors. For more information, visit www.gemspring.com.