Paladin Holdings, a portfolio company of Makai Capital Partners, has acquired Texize, a manufacturer of industrial and commercial soaps, and detergents.
Greenville, South Carolina-based Texize was founded in 1946 as a maker of industrial and household cleaning products. In 1984, Dow Chemical agreed to acquire the company’s consumer products division which included numerous brands including Janitor in a Drum, Glass Plus, Wood Plus, Fantastic, Spray N Wash, and Vivid Detergent. Since the sale to Dow, Texize has focused on producing industrial grade cleaning products and chemicals including cleaners, degreasers, glass cleaners, laundry and enzyme products, janitorial and maintenance products used in a variety of industrial production processes.
“I am excited to see this next phase for Texize,” said Steve Gilliam, the former owner of Texize. “Texize is well respected throughout our markets and, with the additional resources from Paladin Holdings, I believe Texize will strengthen its product offerings and increase production capacity to reach more customers.”
“We are very pleased to welcome Texize to the Paladin Holdings portfolio,” said Andrew Fulford, the managing partner of Makai Capital. “Texize has strong brand equity and a customer loyalty that make it an ideal fit for our market positioning and portfolio strategy.”
In addition to Texize, Paladin Holdings also owns New Life Chemical & Equipment, a Greenville, South Carolina distributor of surplus chemicals and a wholesale manufacturer of commercial cleaning products. New Life was acquired by Paladin in November 2023.
Joining Makai on the buy of Texize as equity co-investors are Capital For Business and Konza Valley Capital. St. Louis-based Parkside Financial Bank & Trust provided senior debt.
Makai Capital invests in North America-based companies that have enterprise values up to $100 million and EBITDA of less than $10 million. Sectors of interest include specialty chemicals, environmental services, sustainable materials and packaging. Makai is headquartered north of Charlotte in Davidson, Noth Carolina.
© 2023 Private Equity Professional | December 6, 2023
