MacDermid to be Acquired by Executive-Led Group
'Committed to working with us in continuing to build...'
MacDermid, Incorporated, the specialty chemical manufacturer and parent company to MacDermid ColorSpan, has signed a merger agreement under which it will be acquired by Daniel H. Leever, its chairman and CEO, and investment funds managed by Court Square Capital Partners and Weston Presidio.
Court Square Capital Partners is a private equity firm with offices in New York and London. Weston Presidio, formed in 1991, provides growth capital to companies across a range of industries. Joseph Silvestri, managing partner of Court Square Capital Partners, is a director of MacDermid and is involved in the merger.
??"????We are proud to partner with Court Square and Weston Presidio, each of which has an outstanding reputation and proven records of success,??"??"? says Leever. ??"????They are committed to working with us in continuing to build MacDermid and provide long-term solutions that deliver value to our customers. They understand our business, share our mindset, and have expressed an interest in investing additional capital to further fund the business and acquisitions.??"??"?
The transaction, valued at more than $1.3 billion, is expected to be completed in the first half of 2007.
Established in 1922 in Waterbury, CT, MacDermid now maintains its principal executive offices in Denver, Colorado and employs 2900 people worldwide.