NEW YORK, February 10, 2017 – One Rock Capital Partners, LLC (“One Rock”) announced today that one of its affiliates has signed a definitive agreement to sell SRLH Holdings, Inc. (“Summit”) to Elementis plc (“Elementis”), a global specialty chemical company with worldwide operations which provides high value functional additives to many markets including personal care. Summit is a leading global specialty chemicals platform that produces a wide breadth of critical active ingredients and materials tailored for use in non-discretionary and regulated personal care, pharmaceutical and dental products.
“Since 2013, Summit has significantly expanded its geographic presence and end-market diversity through acquisition and new global supply partners. The combination with Elementis provides additional penetration of the personal care end market for the combined business,” said One Rock Managing Partner Tony W. Lee.
“During One Rock’s ownership Summit restarted a facility in New York, implemented a new ERP system and successfully integrated the businesses acquired from BK Giulini in 2015,” One Rock Managing Partner R. Scott Spielvogel added. “One Rock’s Operating Partners and the management team have worked closely together to build a market leading specialty chemical manufacturer.”
One Rock Operating Partners John Georges and Andrew Georges served on the Board of Summit and have worked closely with management to improve manufacturing efficiencies, expand Summit’s market position and grow with its customers.
Lazard Middle Market served as exclusive financial advisor to Summit and One Rock on the 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