DuBois Chemicals, a portfolio company of The Riverside Company, has acquired Galaxy Associates, a portfolio company of River Cities Capital Funds. The price and terms have not been disclosed.
Founded in 2002, Cincinnati, Ohio-based Galaxy Associates is a leading provider of specialty and performance-driven chemicals used in critical processes in the industrial, transportation, and pulp and paper sectors. River Cities, also based in Cincinnati, Ohio, is one of the most active and experienced venture funds investing in the Midwest and Southeastern United States.
Since 1920, DuBois has been providing specialty chemical solutions for the manufacturing industry in North America and is expanding into selected market sectors around the world. The company is committed to building sustainable partnerships with customers that also reduce total cost through the delivery of innovative solutions that are lean, green and clean. This is the fourth acquisition by DuBois since it was acquired in 2008 by Riverside Company, a global private equity firm focused on acquiring growing middle market businesses.
River Cities Capital Funds, also based in Cincinnati, is one of the most active and experienced venture funds investing in the Midwest and Southeastern United States, with more than US$400 million under management and over 75 investments over the past fourteen years.
Oaklins' team in Cleveland served as the exclusive investment banker to Galaxy Associates in this transaction. Our team won the mandate with the assistance of a number of other Oaklins' teams in Europe and Asia (France, Germany, Italy, Switzerland, UK, Singapore, India and Canada), who helped to identify and vet potential European and Asian buyers during the pitch process. The complementary nature of the two entities provided an outstanding result for Galaxy’s shareholders and a compelling growth platform for the company and its employees.
Mark A. Filippell
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