04 October 2005 21:50 [Source: ICIS news]
HOUSTON (ICIS news)--Arsenal Capital Partners said on Tuesday it has bought a controlling interest in specialty chemical maker Reilly Industries for $250m (Euro210m).?xml:namespace>
Arsenal is a New York-based private equity firm that invests in middle-market manufacturing and service companies.
Indianapolis, Indiana-based Reilly is the world’s largest producer of pyridine and pyridine derivatives and chemical intermediates used in diverse end markets, including agrochemicals, pharmaceuticals and nutrition. Its Morflex subsidiary is the world’s largest producer of the insect repellent DEET and a leading manufacturer of non-phthalate polymer additives used in a variety of medical, food packaging and children’s toy applications. Reilly has seven plants in the ?xml:namespace>
“Reilly is one of the most respected members of the chemical industry with a number of leading niche market positions,” said Barry Siadat, managing director of Arsenal Capital Partners.
“This arrangement fits with our long term strategy of seeking opportunities to broaden our current business lines and expand into new ones. Arsenal has a proven expertise the specialty chemical sector and our new partnership with them should enable us to pursue this strategy effectively,” said Robert McNeeley, Reilly president and chief executive.
Arsenal Capital Partners has previously made investments in the specialty chemicals and related industrial sectors, including Rutherford Chemicals, Scientific Protein Laboratories, Sermatech International and Interdynamics.
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