|By Marketwired .||
|December 12, 2012 08:00 AM EST||
WAXAHACHIE, TX -- (Marketwire) -- 12/12/12 -- Magnablend, Inc. is pleased to announce the closing of its previously reported acquisition by Univar Inc., a global leader in the distribution of chemistry and related services. Magnablend, a Texas-based provider of custom chemical manufacturing, blending, and packaging solutions, was acquired in May 2011 by an investor group consisting of TGF Management Corp., Austin Ventures, and Cotton Creek Capital, in partnership with the company's CEO, Scott Pendery. The transaction represents the culmination of a successful partnership with management in the execution of a growth and expansion strategy in the specialty chemical industry. Magnablend's acquisition by Univar further augments this strategy by providing increased distribution capabilities and a global presence.
"Univar is an excellent partner for Magnablend. We have similar approaches to the market, very strong customer relationships, and a focus on providing high value-added services and deep industry expertise to customers," said Mr. Pendery. "The combination will create synergies by providing enhanced services for our customers, better geographical coverage, and improved economies of scale."
Following the acquisition, Magnablend will function as a wholly-owned subsidiary of Univar and will continue to be led by its existing management team, including Pendery.
The transaction closed on December 11, 2012. Financial terms were not disclosed.
About Magnablend, Inc.
Founded in 1979, Magnablend specializes in custom chemical manufacturing, blending, and packaging for a variety of industries, including: energy/oil and gas services, agriculture, water treatment, construction, and industrial cleaning. The company blends guar gum slurries, fluid loss additives, buffers, breakers, friction reducers, spacers, specialty cement additives, root stimulators, micro nutrients, specialty fertilizers, nitrogen stabilizers, animal nutrients, coil cleaners, degreasers, and automotive after-market products. For more information, visit: www.magnablend.com.
About TGF Management Corp.
Austin, Texas-based, TGF Management Corp. is one of the oldest and most active private equity firms in the Southwest, focusing on partnering with management teams and operational executives in the acquisition of middle market companies. Since 1992, TGFM has invested in over 40 companies with combined revenue in excess of $3.5 billion. TGFM currently manages Southwest Opportunity Partners, L.P., and previously managed the activities of the Texas Growth Fund. For further information, visit TGFM's website at www.tgfmanagement.com.
About Austin Ventures
Austin Ventures ("AV") has worked with talented entrepreneurs to build valuable companies for over 30 years. With $3.9 billion under management, AV is the most active venture capital firm in Texas and one of the most established in the nation. AV invests in early stage and middle market companies, and its strategy is to partner with talented executives and entrepreneurs to build industry-leading companies predominantly in Texas. Visit www.austinventures.com for more information.
About Cotton Creek Capital
Cotton Creek Capital is a Texas-based private equity firm focused on investing in and growing established lower middle market companies in specialty chemicals, manufacturing, value-added distribution, industrial services, energy, business services, healthcare services, and consumer staples. The firm primarily invests in companies in the Southwest with enterprise values between $20 million and $200 million through control transactions including buyouts, recapitalizations, buy-and-builds, and corporate divestitures. Cotton Creek Capital's relationship-based approach to investing and value creation is centered on the active involvement and operational expertise of the firm's partners and principals in support of its management teams. Cotton Creek Capital is affiliated with Brownlie & Braden, LLC, a provider of financial advisory services to high net worth families for over 20 years. For further information, visit Cotton Creek's website at www.cottoncreekcapital.com.
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