Stonepeak has agreed to acquire Rinchem Company, a provider of chemical management infrastructure and specialty services for high purity, pre-packaged chemicals and gases. No financial terms were disclosed. Guggenheim Securities LLC is serving as Rinchem’s financial advisor while Barclays is serving as financial advisor to Stonepeak.
NEW YORK and PHOENIX, January 6, 2022 – Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that it has entered into a definitive agreement to acquire Rinchem Company Inc. (Rinchem), a specialty warehousing and logistics company with a global network of chemical and gas logistics capabilities.
Rinchem provides chemical management infrastructure and specialty services for high purity, pre-packaged chemicals and gases. Serving the pharmaceutical, biotech, semiconductor, and aerospace industries, Rinchem is a leader in end-to-end, cold-chain chemical management with active operations in the United States, Israel, South Korea, and Taiwan. Rinchem’s support of innovation in technology and life sciences is expected to contribute significantly toward the achievement of global sustainability objectives through reverse logistics of specialized containers to support reuse and a strong focus on creating a more efficient supply chain that reduces the chain’s overall carbon footprint.
For Stonepeak, the transaction represents an opportunity to invest in a high-quality, specialized transportation and logistics business serving large, blue-chip customers. Rinchem expects to benefit from Stonepeak’s deep experience owning and growing mission-critical infrastructure businesses globally, particularly in the transportation and logistics and digital infrastructure sectors.
“Stonepeak has significant experience investing in specialty transport and logistics businesses where we see powerful thematic tailwinds, and we anticipate that our investment in Rinchem will be another great example,” said Luke Taylor, Stonepeak Senior Managing Director and Co-Head of the Americas. “We believe the company’s ability to serve the largest and most technologically advanced chemical suppliers and end markets in the world with a high degree of operational excellence is a true differentiator. We look forward to working closely with Chuck and the team to support the company’s expansion plans and existing customers while also meaningfully growing new relationships.”
“We are thrilled to partner with Stonepeak and expect that their support will accelerate our ability to meet customer growth requirements, enter new markets, and provide synergies with their portfolio and experience within cold chain warehousing and transportation,” said Rinchem Chief Executive Officer, Chuck Breinholt.
The transaction is expected to close in the first quarter of 2022, subject to regulatory approvals and the satisfaction of other customary conditions. Financial terms were not disclosed.
Guggenheim Securities LLC is serving as Rinchem’s financial advisor and Brownstein Hyatt Farber Schreck, LLP is serving as legal advisor. Barclays is serving as financial advisor to Stonepeak in connection with the transaction and Simpson Thacher & Bartlett LLP is serving as legal advisor.
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $43.5 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, and to have a positive impact on the communities in which it operates. Stonepeak sponsors investment vehicles focused on private equity and credit. The firm provides capital, operational support, and committed partnerships to sustainably grow investments in its target sectors, which include transport and logistics, communications, water, energy transition, and power and renewable energy. Stonepeak is headquartered in New York with offices in Austin, Hong Kong, Houston, and Sydney. For more information, please visit https://stonepeakpartners.com/.