By George Gill
Private equity firm The Riverside Co. acquired Galaxy
Associates as an add-on to DuBois Chemicals. Both companies make specialty
chemicals, including metalworking fluids.
Financial terms were not disclosed.
Cincinnati-based Galaxy and DuBois operate less than five
miles from each other in Ohio and share similar business segments, end-markets,
product offerings and targeted customers.
“Galaxy bolsters DuBois’ industrial metal finishing business
while adding complementary capabilities to DuBois’ transportation and paper
segments,” said Riverside Parter Tim Gosline. “We expect customers of both
firms to benefit from enhanced capabilities and a broader suite of products.”
“The complementary nature of our cultures, products and end
markets will allow us to deliver a breadth of solutions that exceed our customers’
expectations,” said DuBois CEO Jeff Welsh.
“They’re involved in many of the same sectors that we’re
involved in,” Welsh told Lube Report. “If you look at the manufacturing piece –
whether that’s metalworking, surface finishing or coating – they’ve got a very
strong presence there as DuBois does. They’ve got a good strong presence in the
transportation area, as well as the pulp and paper sector, which DuBois is also
involved in. With the additional technical resources that they bring, as well
as their product technology, we really see this as a way to increase our
overall penetration in these markets, and a way to create even better
Riverside, which has headquarters in Cleveland and New York,
acquired DuBois of Sharonville, Ohio, in 2008. Galaxy is the fourth add-on that
Riverside has completed for DuBois. Prior add-ons include transportation
cleaning products supplier Blendco, metalworking and industrial fluids
manufacturer Perkins Products, and specialty chemical water and wastewater
management products manufacturer Mitco.