Nova Capital Management has sold its portfolio company Debro Chemicals to 4I Capital. Nova acquired Debro in 2011 as part of a portfolio of five industrial businesses it acquired from Amalgamated Metal Corporation.
Debro Chemicals is a distributor of specialty chemicals. The company operates through four business units: Fine Chemicals, Process Chemicals, Food Ingredients and Industrial Specialties. Debro is headquartered in Brampton, Ontario and has additional offices in Dorval, Quebec and Richmond, BC (www.debro.com).
“This exit is in line with the portfolio strategy we envisaged at the time of the acquisition from Amalgamated Metal and will enable us to concentrate our resources on the remaining two companies in this portfolio over the coming years,” said Kath Jones, an Investment Partner at Nova.
Nova Capital Management has acquired or taken over the management of private equity portfolios representing a total transactional value of some $1.7 billion. The firm currently manages investments in 29 businesses primarily operating in Western Europe and North America, across a range of sectors. The firm was founded in 2002 and has offices in London, Chicago and Toronto (www.nova-cap.com).
The buyer of Debro Chemicals, 4I Capital, is a Toronto-based private investment company headed by Brian Imrie.
“I am pleased to return Debro to Canadian ownership,” said Mr. Imrie. “Debro is one of the leading, independent chemical distributors in Canada and we have an outstanding employee team lead by Bill Heise. Debro represents many of the best chemical companies in the world and serves a diverse and growing customer base across Canada. I look forward to working with the Debro team, our suppliers and customers and to celebrating Debro’s centennial in 2020 and for many years beyond.”
© 2014 PEPD • Private Equity’s Leading News Magazine • 5-1-14