ChemDesign Products, a portfolio company of The Resilience Fund II, has been acquired by Lubar, a Milwaukee-based private investment firm.
ChemDesign is a provider of custom toll manufacturing services to the global chemical industry. The company has developed a strong reputation for partnering with its blue-chip customers, using its technical personnel, flexible manufacturing facilities and process optimisation capabilities to produce highly complex chemicals.
The sale of ChemDesign generated a 3.8x net return on invested capital and a 25.9 per cent net internal rate of return.
"Our investment in ChemDesign is a great case study in corporate renewal. Through hard work, vision, and an operations oriented approach real value was created for the benefit of all the company’s various stakeholders," says Bassem Mansour (pictured), co-chief executive of Resilience.
Resilience acquired ChemDesign in October 2006 in a chapter 11 363 Sale.
"I am proud of our many accomplishments," says David Mielke, ChemDesign’s chief executive. "Resilience, as a partner, has been critical to our success by providing the capital structure at the onset and supporting the management team through a dynamic transition in an unpredictable economic climate. I have found the working relationship and support between the management team and Resilience unique and refreshing. They balance high standards of performance with a true understanding of the business and its capabilities."
Jones Day served as legal counsel and Dresner Partners acted as exclusive financial adviser to ChemDesign, Resilience and its affiliates.
