The Valence Group Successfully Advises Vertex Chemical Corporation on the Sale of Assets to Hawkins, Inc.
By The Valence Group, PRNEMonday, January 17, 2011
NEW YORK, January 18, 2011 - The Valence Group today announced that it has successfully advised the
Vertex Chemical Corporation on its definitive agreement to sell substantially
all the assets of Vertex Chemical Corporation and its affiliates to Hawkins,
Inc.
(Logo: photos.prnewswire.com/prnh/20110118/NY30970LOGO )
Michael H. Moisio, Chairman of Vertex commented, "My wife, Lee, and I
have operated this family business for the last 32 years and we are very
pleased with the opportunity for the Vertex business to increase its growth
within the Hawkins organization. We have known and respected Hawkins and its
management team for many years. Hawkins has a similar culture to that of
Vertex, placing high value on quality and complete customer satisfaction.
Both companies are committed to a seamless transition for our customers,
suppliers and employees."
Mr. Moisio added, "The advice and guidance we received from The Valence
Group, which had been recommended for their unmatched expertise in the field
of chemical mergers and acquisitions, greatly facilitated this process for
us. We relied on the informed direction and support which The Valence Group
provided in this successful transaction."
About Vertex Chemical Corporation
Vertex Chemical Corporation has been a manufacturer of sodium
hypochlorite in the central Midwest since 1949. In addition to the
manufacture of sodium hypochlorite bleaches, Vertex distributes and provides
terminal services for bulk liquid inorganic chemicals, and contract and
private label packaging for household chemicals. Corporate headquarters are
located in St. Louis, Missouri, manufacturing sites in Dupo, IL; Camanche,
IA; and Memphis, TN. Vertex is a Responsible Care member of the American
Chemistry Council and the Chlorine Institute.
Hawkins Chief Executive Officer, John R. Hawkins, commented, "We are
extremely pleased to be welcoming a company the caliber of Vertex into the
Hawkins organization. We believe this transaction will offer significant
benefits to our shareholders as we intend to build on Vertex's capabilities,
plant sites and employees to broaden the products and services offered to
Vertex's current customer base. In addition, this acquisition provides us
with an expanded geographic footprint and additional infrastructure to
support our strategy of geographic growth for our Water Treatment Group."
About Hawkins
Hawkins, Inc. distributes blends and manufactures bulk and specialty
chemicals for its customers in a wide variety of industries. Headquartered in
Minneapolis, Minnesota, and with 20 facilities in 11 states, the Company
creates value for its customers through superb customer service and support,
quality products and personalized applications.
About The Valence Group
The Valence Group is a specialist M&A boutique offering advisory services
exclusively to companies and investors in the chemicals, materials and
related sectors. The firm has developed broad and deep transactional
expertise: sell-side, buy-side, joint venture, private companies, public
offers, corporate carve-outs, LBOs and management buy-outs. The founders and
senior members of The Valence Group collectively have more than 130 years of
transactional experience gained both at major investment banks and within
chemical companies. The firm's offices are located in London, New York and
Shanghai.
www.valencegroup.com
Paul Lakind, Chief Administrative Officer of The Valence Group, +1-212-847-7339, plakind at valencegroup.com
Tags: January 18, New York, The Valence Group