William Blair Advises Specialty Professional Products

Thursday, October 10, 2013

William Blair & Company acted as the exclusive financial advisor to Specialty Professional Products (SPP), a portfolio company of Calvert Street Capital Partners (CSCP), in connection with its sale to KODA Distribution Group, a portfolio company of Audax Group, for an undisclosed amount. The transaction closed on September 30, 2013 and marks the firm’s 16th distribution services deal in the last two years.

Transaction Highlights

  • Distribution Capabilities, Sector Expertise Lead to Premium Outcome: CSCP and SPP were attracted to William Blair’s extensive and highly relevant distribution and chemical sector experience. The transaction team leveraged its deep industry knowledge and buyer relationships to deliver a premium outcome for our client.
  • Execution Excellence: William Blair marketed SPP to a group of highly strategic buyers while simultaneously preparing to launch a broad process. The possibility of a full market check created a highly competitive dynamic that allowed the team to secure a premium valuation without fully committing to an extended and potentially disruptive marketing process.

About the Companies

Specialty Professional Products is a value-added distributor of highly specialized herbicide and insecticide products used in the forestry, industrial vegetation management, range and pasture, aquatics, and mosquito control markets.  Based in Sanford, Florida, the company maintains market-leading positions in several large and growing markets and goes to market through two distinct business segments – ADAPCO and Red River Specialties.

Calvert Street Capital Partners is a middle-market private equity firm based in Baltimore, Maryland. Since 1995, the firm has invested in more than 40 scalable niche manufacturing and business services companies across a variety of industries.

KODA Distribution Group, a portfolio company of Audax Group, is a leader in specialty chemicals distribution, serving customers in the coatings, adhesives, sealants, and elastomers, as well as the construction, home/personal care, industrial and institutional cleaning, food, lubricants, inks, and plastics end markets.

Audax Group, founded in 1999, is a middle-market private equity firm with more than $5 billion under management. The firm has invested in more than 300 middle market companies since its founding.

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