In the news release, Altamont Capital Partners Invests in
Douglas Products to Support the Acquisition of Dow AgroSciences'
Vikane and ProFume Fumigants Business, issued 06-Jul-2015 by Altamont Capital Partners over PR
Newswire, the dateline location should read "PALO ALTO, Calif. and LIBERTY, Mo." rather than "PALO ALTO, Calif. and LIBERTY, Miss." as incorrectly transmitted by
PR Newswire. The complete, corrected release follows:
Altamont Capital Partners Invests in Douglas Products to Support
the Acquisition of Dow AgroSciences' Vikane and ProFume Fumigants
Business
PALO ALTO, Calif. and
LIBERTY, Mo., July 6, 2015 /PRNewswire/ -- Altamont
Capital Partners (Altamont)
announced today that it has provided capital to support Douglas
Products, LLC (Douglas) purchase
the Vikane and ProFume businesses from Dow AgroSciences (a
subsidiary of The Dow Chemical Company; NYSE: DOW). As part of the
transaction, Altamont has
partnered with Douglas' management
team and owners, Bill Fuller and
Wes Long, who will retain
significant equity stakes.
Commenting on the transaction, Douglas' CEO Bill
Fuller noted, "Since acquiring Douglas in 2007, we've focused on adding new
products to expand our specialty chemicals offerings, and the
acquisition of Vikane and ProFume will further diversify our
business within the pest control and agricultural markets.
I'm excited to partner with both Altamont and the dedicated professionals of
the Vikane and ProFume business who will be joining Douglas."
As part of the sale, Douglas
acquired a state-of-the-art manufacturing facility. Douglas and Dow have entered into a long-term
agreement for Dow to continue to operate the facility on
Douglas' behalf. Douglas' COO and CFO Wes Long elaborated further: "We believe that
this arrangement provides our customers with an ideal outcome: They
will receive Douglas' exceptional
customer service while also having the assurance that their product
will continue to be produced in the same facility, by the same
employees, with the same great quality."
Randall Eason, Managing Director
of Altamont, added, "Douglas has built an impressive business and
we believe Vikane and ProFume are great additions. We are
excited to partner with Bill, Wes, and the rest of the combined
team to consummate this transaction, and continue to develop
Douglas into a leading specialty
chemicals platform."
Ropes & Gray LLP advised and represented Altamont and Douglas.
ABOUT DOUGLAS
Headquartered in Liberty,
Missouri, Douglas Products was founded in 1916 and has grown
into a leading manufacturer and distributor of specialty chemical
products for pest management, thermal fluids, and sanitary sewer
applications. Douglas has
developed a long-standing industry reputation for quality products,
customer service, and customized solutions.
ABOUT ALTAMONT CAPITAL
PARTNERS
ALTAMONT CAPITAL PARTNERS (ACP)
is a private equity firm based in the San
Francisco Bay Area with over $1
billion in capital under management. ACP is focused on
investing in middle market businesses and partnering with leading
management teams to help them reach their full potential. The
firm's principals have significant experience building business
success stories across a range of industries and transaction
types.
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SOURCE Altamont Capital Partners