Denver-based private equity firm Platte River Equity has acquired a majority interest in MFG Chemical with owner and founder, Charles E Gavin, III, maintaining a minority equity interest in the company.
Headquartered in Dalton, Georgia, MFG is a specialty chemical manufacturer of polymers, surfactants and esters used in various applications in the oil field, water treatment, mining, coatings and agricultural markets.
“For almost 40 years, MFG has leveraged its differentiated position in maleic anhydride and glacial acrylic acid to develop and manufacture new products in partnership with our customers to better serve their needs,” says Gavin.
“We remain committed to our strategy of providing exceptional value and service to our customers, investing in our people and prudently growing our business. We believe that Platte River is the right partner to help us accelerate the Company’s growth in current and adjacent chemistries as well as new markets,” says Keith Arnold, CEO of MFG.
“We were attracted to MFG because of its strong reputation as a value-added, niche supplier to small and global chemical companies. We welcome MFG to the Platte River portfolio and look forward to partnering with Keith Arnold and his leadership team to take full advantage of the available growth opportunities,” says Kris Whalen, Managing Director of Platte River.
