News Article 2015

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August 5 2015, David R Brown

Leading USA specialty chemicals distributor, Koda Distribution possibly up for sale

Boston-based Audax Private Equity is believed to be looking to sell its portfolio company, Koda Distribution Group, according to to a number of industry sources. Audax is reportedly seeking up to USD 360 million for the specialty chemical distributor, which would represent an 8x earnings multiple, based on a EBITDA of USD 45M million generated by the company in its last financial year.

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The Koda Distribution Group has made a number of acquisitions recently, including Colonial Specialty Chemicals and Unipex Solutions Canada in 2015. With the addition of UniPex, its annual adjusted sales are about $750 million, up from $602 million in 2014, the company said in an article in ICIS Chemical Business. In 2014, Koda Distribution Group acquired The DeWolf Companies of Warwick, R.I., for an undisclosed sum. It has also acquired Adapco, Red River Specialities and Marcor Development.

Books on the deal have been out for several weeks, with Harris Williams handling the transaction for Audax Group. It's unclear if management presentations have taken place or where the bidding process stands. It is possible the sales process will not lead to a transaction. Possible suitors being linked with the buyout include PE investors such as AEA Investors, Arsenal Capital, Charlesbank Capital Partners, SK Capital and Wind Point Partners.

About KODA Distribution Group
Headquartered in Stamford, CT, KODA Distribution Group is a leader in specialty chemical distribution in North America, serving customers in CASE ((Coatings, Adhesives, Sealants & Elastomers) as well as agricultural, life sciences and industrials (lubricants, metal-working, plastics).

Source(s): Various industry sources

Further Information

Visit: http://www.kodadistribution.com