FYI for our oleochemical friends: Vantage Specialty Chemicals, the largest oleochemical producer in North America, is now owned by the Jordan Company (TJC), a private equity firm.
Vantage’s former owner, H.I.G. Capital sold the company for an undisclosed sum. ICIS actually broke this news in December 7 (subscription only) after several sources in the financial community noted in an interview that H.I.G. put Vantage in a formal auction process and that “it was a food fight among private equity firms”.
The Vantage assets comprise three US-based oleochemicals acquisitions made by HIG Capital starting 2008 – Uniqema Americas (the oleochemicals business owned by UK-based Croda), Lambent Technologies and Lipo Chemicals. Vantage is said to have a current annual revenue in excess of more than $500m
ICIS noted in December that estimated selling price for the company may be between $400-480m or higher.
TJC is no stranger to the chemical space. It owns US-based Haas Group International, a provider of chemical management services.