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OpenGate Capital Acquires Diversified Commodity, Specialty Chemical Distribution Business Chemsolv.

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MANews-(C)2009-2022

US-based private equity firm OpenGate Capital has acquired US-based regional commodity and specialty chemicals distributor Chemsolv Inc, the firm said.

The business was acquired from the Austin family, who continue to retain an ownership stake and role in the company.

Terms of the acquisition were not disclosed.

Chemsolv was founded in 1979 by Glenn Austin and has four mid-Atlantic distributions centers strategically located in key chemical markets with access to major highway corridors in South Carolina, Tennessee, and two DCs in Virginia.

The business operates as a hub-and-spoke distribution model with a fleet of 41 trucks and approximately 1.5m galls of bulk storage capacity providing the business with significant operational flexibility.

Chemsolv distributes a range of more than 1,000 chemical products sold to a variety of customers and end markets including solvents, plasticizers, coolants, lubricants, surfactants, diesel exhaust fluid...

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