Post Capital has sponsored a recapitalization of BHS Marketing LLC, a Salt Lake City-based maker, blender and distributor of specialty and commodity chemicals. No financial terms were disclosed.
Post Capital Partners LLC (“Post Capital”), in partnership with chemical industry veteran, Philip Johnson, and existing shareholders, Bruce Schechinger and Michael Merlo, have completed the recapitalization of BHS Marketing, LLC (“BHS”). Based in Salt Lake City, Utah, with significant operations in Nampa, Idaho and Fort Lupton, Colorado, BHS manufacturers, blends and distributes a variety of specialty and commodity chemicals. Its primary end-markets include the food processing, water treatment, oil & gas and aluminum industries.
BHS’ two co-founders, Bruce Schechinger and Michael Merlo, will continue in their roles at BHS and will remain significant investors in the company. “Bruce and Michael have done a great job in building BHS over the past dozen years. We are excited about our partnership with them and are pleased to provide BHS with additional resources to accelerate its already strong growth,” said Michael Pfeffer, Post Capital’s Managing Director. Commenting on the transaction, Bruce Schechinger stated that, “Post Capital is a terrific partner and shares our vision to build an even better BHS.”
Consistent with Post Capital’s investment strategy of partnering with talented operating executives, Post Capital’s Management Partner in specialty chemicals, Philip Johnson, will also be joining the BHS senior management team. Philip Johnson brings more than 25 years of executive leadership experience to BHS. He had worked in a variety of senior management, sales & marketing and manufacturing roles at ExxonMobil Chemical, Hercules Chemical and Dixie Chemical before joining Post Capital’s Management Partnership Program. Commenting on the addition of Philip Johnson, Michael Merlo said, “Philip brings tremendous operational experience to BHS, and we are looking forward to him taking a significant role in the continued success of the company.”
Fifth Third Bank provided senior debt financing for the transaction. Stonehenge Partners, Inc. provided subordinated debt financing. Winston & Strawn LLP served as legal advisor to Post Capital, while Jones Waldo Holbrook & McDonough PC advised BHS. Private Capital Research served as financial advisor to Post Capital, and Generation Equity served as financial advisor to BHS.
For more information, please contact Michael Pfeffer of Post Capital at 212-888-5700, ext. 203.
About Post Capital Partners LLC
Post Capital is a private investment firm that invests in small and lower middle-market businesses with solid fundamentals and a history of stable cash flow and attractive growth prospects.
The core of the Post Capital investment strategy is partnering with proven and committed operating executives, who may be a strong incumbent team and/or new team drawn from Post Capital’s extensive network. The Management Partnership Program is Post Capital’s formal network of outstanding current and former CEOs, COOs and entrepreneurs who possess significant operating and management expertise across a wide range of industries.
Post Capital, based in New York City, has a committed capital fund consisting of top tier institutional as well as sophisticated private investors.