Specialty-Chemicals Maker Chase Corp. Seeks Sale
Chase Corp. has said it expects tailwinds for its business, including a surge in infrastructure spending. Photo: Pavel Kapish / Alamy By Lauren Thomas June 9, 2023 5:02 pm ET Specialty-chemicals company Corp. is working with financial advisers on a possible sale that has drawn interest from private-equity firms and industry players, according to people familiar with the matter. The Westwood, Mass., company has already received multiple bids, one of them from private-equity firm Pritzker Private Capital, the people said. Pritzker, which invests on behalf of the family of Illinois Gov. J.B. Pritzker and others, focuses on businesses associated with industrial components, private-label contract manufacturing and sustainable packaging. The size
Chase Corp. has said it expects tailwinds for its business, including a surge in infrastructure spending.
Photo: Pavel Kapish / Alamy
Specialty-chemicals company Corp. is working with financial advisers on a possible sale that has drawn interest from private-equity firms and industry players, according to people familiar with the matter.
The Westwood, Mass., company has already received multiple bids, one of them from private-equity firm Pritzker Private Capital, the people said. Pritzker, which invests on behalf of the family of Illinois Gov. J.B. Pritzker and others, focuses on businesses associated with industrial components, private-label contract manufacturing and sustainable packaging.
The size of Pritzker’s bid couldn’t be determined. Chase Corp. has a market capitalization of about $1.2 billion after its shares rose more than 42% so far this year. The stock closed Friday at $123.08, not far off a 52-week high of $127.14.
Chase Corp. manufactures products for three business segments: adhesives, sealants and additives; industrial tapes (its largest segment by revenue in fiscal 2022); and corrosion protection and waterproofing, according to its website. Its materials are used across industries including autos, construction and electronics.
The company has said it anticipates a number of tailwinds for its business, including a boom in infrastructure spending across North America, consumer-device upgrades and enhancements to power grids and solar and wind turbines.
Chase reported revenue of $325.7 million in fiscal 2022, ended in August, up 11%.
The business, founded in 1946, has grown in recent years through a number of acquisitions. Last year, it bought NuCera Solutions, a producer of high-end polymer technologies, for about $250 million. Since 2016, it has completed a total of nine deals.
Pritzker Private Capital is a family-owned investment firm that typically works with middle-market companies across the manufactured-products and services sectors, according to its website. Some of its investments include Technimark, which makes custom rigid plastic packaging and components, and Valicor, a provider of nonhazardous wastewater treatment services.
The Pritzker family’s wealth comes in part from the Hyatt Hotels
Write to Lauren Thomas at [email protected]
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