NEW YORK, June 7, 2016 – One Rock Capital Partners, LLC (“One Rock”) announced today that one of its affiliates has sold Compass Chemical International, LLC (“Compass”) to Italmatch Chemicals Group (“Italmatch”), a leading global chemicals group that specializes in the manufacture and marketing of performance additives for lubricants, water treatment and oil & plastics. Compass is the largest independent manufacturer of organophosphonates in North America and provides products for water treatment, oil & gas and various other applications.
The acquisition of Compass provides Italmatch with a significant presence in the attractive North American market following its acquisition of Solvay’s Desalination and Phosphonates / Phosphonic acid-based water additives business. With the acquisition, Italmatch will have manufacturing facilities in Smyrna, GA and Huntsville, TX where it will start to manufacture its global Dequest product line.
“Compass has built a reputation as the leading North American provider of scale-inhibition and anti-corrosion products, and under One Rock’s ownership over the past year has significantly expanded its presence and increased penetration in its core end markets. The combination with Italmatch allows the combined company to leverage proprietary technologies to better serve and expand its customer base,” said One Rock Managing Partner Tony W. Lee.
“We are extremely excited that Compass will play a key role in Italmatch’s global capabilities, which will provide direct access to new markets and customers,” One Rock Managing Partner R. Scott Spielvogel added. “One Rock’s Operating Partners and the management team have worked closely together to build a platform for such expansion and scale.”
One Rock Operating Partners John Georges and Andrew Georges served on the Board of Compass and have worked closely with management to further enhance the market position and reputation that Compass has built since its founding in 1999.
One Rock will continue to own a minority stake in the combined business post-transaction.
One Rock makes controlling investments in companies with potential for growth and operational improvement using a rigorous approach that utilizes highly experienced Operating Partners to identify, acquire and enhance businesses in select industries. The involvement of these Operating Partners affords One Rock the ability to conduct due diligence and consummate acquisitions and investments in all types of situations, regardless of complexity. One Rock works collaboratively with company management and its Operating Partners to develop a comprehensive business plan focused on growing the enterprise and enhancing its profitability to enhance long-term value. One Rock also has a unique strategic relationship with Mitsubishi Corporation, which can provide strategic resources to One Rock and its portfolio companies, including access to potential new business partners, market intelligence, and low-cost sourcing through increased purchasing power globally.
One Rock Capital Partners, LLC: 212-605-6000