Milwaukee-based investment bank Grace Matthews Inc. has completed the sale of Weston, Mich. chemical manufacturer Silbond Holdings LLC to Evonik Industries AG.
Grace Matthews advised Silbond and Bloomfield Hills, Mich.-based O2 Investment Partners LLC in the transaction.
O2, Centerfield Capital Partners and Silbond’s management team acquired Silbond in 2010, and Grace Matthews served in a long-term advisory role to prepare the company for sale.
“Grace Matthews identified an excellent strategic partner for Silbond at an attractive valuation, and executed a highly disciplined process in this transaction,” said Todd Fink, a managing partner of O2.
Silbond makes specialty silicate materials and generated a great deal of interest in the market, which Grace Matthews helped its owners navigate.
Essen, Germany-based Evonik also manufactures specialty chemicals, and serves a global market. It is expected the acquisition will bring several complementary product lines and geographic locations together.
“With its full line of high-purity specialty silicates, Silbond complements Evonik’s functional silanes business like a missing piece of a puzzle,” said Kevin Yttre, managing director at Grace Matthews. “The strategic fit between the two companies could not be stronger, and both the buyer and seller believe that the combined businesses will provide greater efficiencies and higher levels of service for the end markets.”
