The Resolute Fund, together with certain additional funds managed by The Jordan Company, has completed the sale of Haas Group to Wesco Aircraft Holdings for USD550m in cash.
Resolute made its initial investment in the growing and under-penetrated chemical supply chain management (CSCM) industry with the acquisition of ICMS Holdings (d/b/a Avchem) in 2006, and increased its investment in CSCM through the acquisition of four targeted businesses – including Haas TCM in 2007.
The combined entities, which conduct business as Haas, provide global chemical supply chain management and integrated supply solutions for the commercial aerospace, airline, military, energy, and other markets.
Haas has 35 distribution centres located around the world, and purchases and manages over 90,000 chemicals and products on behalf of its customers. The company generated revenue of USD573.5m in 2012 and employs more than 1,300 people worldwide.
Harris Williams & Co acted as exclusive financial advisor to Haas. Mayer Brown acted as legal advisor to Haas and The Jordan Company.
