Grace Matthews Inc. and MFG Chemical Inc. recently announced that Platte River Equity III, L.P. has completed a recapitalization of MFG Chemical. The company will continue to be led by the current president and COO Keith Arnold. Grace Matthews advised MFG Chemical on the recapitalization.
Based in Dalton, Ga., MFG Chemical is a leading surfactants, polymers and specialty chemicals manufacturer. The shareholders of MFG Chemical are members of the Gavin family, led by Charles E. Gavin, III, the founder and CEO of MFG Chemical. The Gavin family will maintain a significant ownership position in the company going forward.
"I founded MFG Chemical nearly 40 years ago as a family-first company focused on providing superior service and formulation expertise to our customers, as well as maintaining strong ties to the local community,” said Gavin. “The MFG family is excited to partner with Platte River based on their demonstrated experience in specialty chemicals and their commitment to preserve the company's culture. They have an excellent reputation for operating and advising chemical businesses, and I am excited about their plans to foster growth at MFG Chemical."