Swander Pace Capital has made an investment in Recochem, a specialty consumer and industrial chemical company.
Recochem is a producer, formulator, packager and wholesale distributor of windshield wiper fluids, engine coolants, diesel exhaust fluid, paint thinners, solvents, and other specialty chemicals sold in general merchandise, automotive aftermarket, and home improvement retailers through the Americas and Australia-Asia. Recochem is headquartered in Montreal and has operations in the Americas, Australia, Europe, and the Asia-Pacific region (www.recochem.com).
“We look forward to partnering with Recochem’s existing management team and its founding family,” said Shawn Hecht, Managing Director at Swander Pace. “Recochem has been an industry leader for several decades and benefits from a strong corporate culture of innovation, intense focus on customer service, and genuine appreciation for the contributions of its employees around the globe. There is a significant opportunity to capitalize on the company’s momentum and to drive for continued growth through our partnership.”
The Recochem investment represents Swander Pace’s 10th acquisition in Canada over the last decade.
“Swander Pace has a strong track record of building successful customer-oriented businesses in Canada and is an ideal partner to help us propel our business forward,” said Rick Boudreaux, CEO of Recochem. “This investment will facilitate further growth and provide financial support for infrastructure and technology enhancements, as well as strategic acquisitions. Our customers will benefit from this investment, and they can expect continued excellence with service and product innovations in the future.”
Swander Pace also holds investments in two other Canadian-based companies, including Lavo – a manufacturer and marketer of household cleaning products – and Kicking Horse Coffee, an organic and fair-trade coffee brand. Swander Pace previously owned Liberté – the #1 organic yogurt in Canada – and Pineridge Bakery – a manufacturer of frozen and fresh baked goods for the foodservice, in-store bakery, convenience, and grocery channels.
Swander Pace Capital invests in middle-market consumer products companies including branded and non-branded, manufacturers, marketers, and distributors that sell through a range of retail and institutional channels. The firm generally targets companies that have up to $400 million in revenues. Swander Pace was founded in 1996 and has offices in San Francisco, CA; Bedminster, NJ; and Oakville, ON (www.spcap.com).
© 2014 PEPD • Private Equity’s Leading News Magazine • 5-6-14