Nolan Advised Chemisphere Corp. on its Sale to OpenGate Capital

DATE: December 30, 2021

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Who is Our Client?

  • Chemisphere Corp. is a specialty solvent blender and chemical distributor that services customers throughout the United States.
  • Located in St. Louis, Missouri and founded in 1974, Chemisphere has more than 1.2 million gallons of storage capacity, 58,000 gallons in blending capacity and 64,000 square feet of warehouse and manufacturing space.
  • Chemisphere’s broad capabilities and product offerings include bulk product and raw material distribution, custom blending and toll manufacturing.
  • The company provides more than 1,000 chemical products and blends and serves customers across a variety of end markets including personal care, agriculture, food and beverage, and industrial markets.

Why Did Chemisphere Corp. Hire Nolan?

  • Chemisphere’s founder, Bob Schwent, was looking to transition ownership for retirement and estate planning purposes.
  • He was seeking a partner with a vision for maintaining Chemisphere’s strong reputation while bringing the resources necessary for future growth.
  • Chemisphere hired Nolan based on the firm’s reputation for successfully navigating family-owned business transitions in the industrial sector.

What Value Did Nolan Deliver?

  • Nolan’s competitive sale process identified OpenGate Capital, a global private equity firm specializing in the acquisition and operation of businesses to create new value through operational improvements, innovation, and growth.
  • Established in 2005, OpenGate Capital is headquartered in Los Angeles, California with a European office in Paris, France.
  • OpenGate viewed Chemisphere as a highly complementary business to Chemsolv, Inc., a business acquired by OpenGate Capital earlier this month.
  • The combination of Chemisphere with Chemsolv creates a diversified platform spanning the Midwest to the Mid-Atlantic region of the U.S., with a balanced product offering of blended and non-blended chemicals, and a diversified customer base covering a variety of end-markets including construction, transportation, printing, personal care, automotive, industrial, food and beverage, lawn and garden, and other sectors.
  • “The acquisition of Chemisphere is an exciting second step in the building of a chemical distribution platform, and is a hallmark of our belief in seeking out ways to grow our businesses organically and through M&A,” said Andrew Nikou, OpenGate Capital’s Founder and Chief Executive Officer.

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