The Riverside Company has acquired Galaxy Associates as an add-on to its existing ownership of DuBois Chemicals, both of which manufacture specialty chemicals and solutions and are located in Cincinnati.
Founded in 2002, Galaxy provides specialty chemicals such as metalworking fluids, process chemistries, conversion coatings, sealing rinses, and cleaners.
“Galaxy bolsters DuBois’ industrial metal finishing business while adding complementary capabilities to DuBois’ transportation and paper segments,” said Riverside Partner Tim Gosline. “We expect customers of both firms to benefit from enhanced capabilities and a broader suite of products.”
Galaxy is the fourth add-on that Riverside has completed for DuBois since its initial investment in 2008. Prior add-ons include Blendco, Perkins Products and Mitco.
Galaxy and DuBois operate less than five miles from each other and shares similar business segments, end-markets, product offerings, and targeted customers.
DuBois CEO Jeff Welsh is excited about the unique solutions that Galaxy and DuBois can provide to their customers.
“Galaxy is a truly great entrepreneurial company,” said Welsh. “The complementary nature of our cultures, products and end markets will allow us to deliver a breadth of solutions that exceed our customer’s expectations. It’s a really natural fit for our marketplace. Together we offer thousands of innovative specialty chemical solutions that we can deliver with creative passion and expertise.”
Working with Gosline for Riverside on this transaction were Principal Chip Walker, Senior Associate William DeLong and Associate David Wynne. The transaction was sourced by Scott Gilbertson. KeyBank, U.S. Bank, The Bank of Montreal, General Electric Capital Corporation and Tri-State Capital Bank provided financing, and Jones Day advised Riverside on the transaction.
The Galaxy acquisition is the eighth acquisition of 2012 for Riverside.
The Riverside Company is a global private equity firm focused on acquiring growing businesses valued at up to $200 million. Since its founding in 1988, Riverside has invested in more than 280 transactions. The firm’s international portfolio includes 80 companies, and it has more than $3 billion in assets under management.