New York, April 23, 2019 – Verus Investment Partners, a leading private equity investment firm, today announced that it has sold its portfolio company VanDeMark Chemical Inc., Lockport, NY, for an undisclosed value.
VanDeMark, one of the world’s largest, independent manufacturers of phosgene and phosgene derivatives, offers a range of more than 30 chemical compounds used in the production of pharmaceuticals, agrochemicals, plastics and polymers, and CASE (coatings, adhesives, sealants, elastomers) end markets.
Christopher P. Fuller, Managing Partner of Verus, VanDeMark’s largest and lead private equity owner said, “Since we acquired VanDeMark in 2012 it has increased its revenue, entered new markets and extended the range of applications for its portfolio of chemical compounds based on phosgenation chemistry. The company also successfully grew by acquisition with its transformative purchase of Framochem Kft in Hungary in 2014. We now wish VanDeMark continued success.”
Under the terms of the agreement, VanDeMark’s Chief Executive Officer Mike Kucharski, who joined the company in 1983, will continue as CEO, as will the rest of the management team.
“Verus has been an incredibly supportive partner, helping me and my team take VanDeMark to the next level though investments in capital, people and processes to improve the business,” said Kucharski. “The acquisition of Framochem, which Verus sourced and led, opened up international markets and transformed the company from the largest independent phosgene producer in North America to the leading global player that we are today.”
William Blair and Houlihan Lokey served as financial advisors to VanDeMark, and Arnold & Porter was counsel to the selling shareholders.