- Graycliff Partners announced it sold specialty chemicals provider HarperLove Holdings to HBM Holdings Company
Graycliff Partners announced it has sold specialty chemicals provider HarperLove Holdings to HBM Holdings Company. HarperLove has worked with packaging manufacturers for over 40 years to provide a suite of additive solutions that impart unique physical attributes to corrugated and paper-based products.
“Graycliff has been an outstanding partner for HarperLove,” explained HarperLove CEO Alan Clark. “Our considerable success over the past five years has been aided by Graycliff’s support and guidance. We look forward to continued success as part of the HBM portfolio.”
Ever since Graycliff acquired HarperLove in 2014, the company brought in a senior management team, set up a series of successful growth initiatives, and improved margins through vertical integration by more than doubling profitability.
“We are immensely proud of all that we have accomplished at HarperLove,” says Will Henderson, Managing Director at Graycliff. “It’s been a pleasure working with the team and we wish them the best going forward.”
Last month, Graycliff also announced the final closing of its latest buyout fund called Graycliff Private Equity Partners IV LP (GPEP IV) at a hard cap of $350 million in limited partner commitments.
Last month, Graycliff also announced the final closing of its latest buyout fund called Graycliff Private Equity Partners IV LP (GPEP IV) at a hard cap of $350 million in limited partner commitments.
Going forward, GPEP IV is going to continue to Graycliff’s strategy of making control buyout investments in lower-middle market companies with a focus on partnering with founder and family-owned businesses in the manufacturing, business services, and value-added distribution sectors.
“HarperLove’s technical and service-oriented expertise has made it a valuable partner to its customers. The team has done a tremendous job of expanding the company’s industry-leading position,” added Graycliff Managing Partner Duke Punhong.
Piper Jaffray & Co. had served as the exclusive financial advisor for Graycliff Partners and HarperLove.
