October 23 2015, David R Brown
Edgewater Capital Partners acquires a majority stake in U.S. distributor & custom blender, ChemQuest Chemicals
Edgewater Capital Partners, L.P. and Mr. Clayton Pace have acquired a majority stake in ChemQuest Chemicals, LLC. Mr. Pace will become the new CEO of ChemQuest. Lewis Talbert, the previous owner of ChemQuest, will retain a minority stake in the business and support Mr. Pace. Financial terms were not disclosed.
ChemQuest has a solid customer base, an excellent reputation in the marketplace, and an experienced team. This is a great platform for growth
Clayton Pace
CEO of ChemQuest
Based in Pasadena, Texas, ChemQuest is a distributor, custom blender and value-added supply chain partner for chemical companies serving a broad range of industries, including agriculture, water treatment, petrochemicals, and other industrial applications. The company's product offering includes mixing and blending, repackaging, filling, labeling, palletizing, private labeling, and inventory management to a large base of customers throughout the Gulf Region and beyond.
Edgewater and Mr. Pace recognized ChemQuest as a strong business platform that would benefit from capital investment as well as additional senior management that could broaden ChemQuest's reach in new markets and regions.
“ChemQuest has a solid customer base, an excellent reputation in the marketplace, and an experienced team. This is a great platform for growth,” said Mr. Pace.
“Lewis has done a great job of positioning the business for the next stage of growth since he acquired it three years ago, and we believe that the industry connections and the management skills that Clay brings add tremendous value to the company,” commented Christopher Childres, Managing Partner of Edgewater. “As a private equity group with 16 years’ experience investing in the chemicals industry, we believe that, with our combined leadership and expertise, ChemQuest has great potential going forward.”
About ChemQuest Chemicals, LLC
Founded in 1994, ChemQuest Chemicalsh has a long and successful history of providing chemical blending and toll manufacturing services for chemical manufacturers in and around the Bayport Industrial Complex. ChemQuest has expertise in blending and manufacturing aqua ammonia and ammonia-based compounds along with industrial cleaning compounds, water treatment chemicals, liquid phosphates, and chemicals for the petrochemical, agricultural, pulp and paper, metal finishing, and other specialty chemical industries.
Source(s): Edgewater Capital Partners Pres Release