Transaction Overview
- Represented HarperLove Adhesives, a portfolio company of Graycliff Partners, in its sale to HBM Holdings.
- HarperLove is the leading North American manufacturer of critical additive solutions used in the formulation of adhesives for the corrugated manufacturing process.
- Based in Charlotte, NC, the company boasts an impressive customer roster of multi-national corrugated board producers.
Key Observations
- Graycliff was seeking liquidity on its investment in the business, including significant recent capital expenditures to expand the company’s manufacturing capabilities.
- HBM viewed HarperLove as an attractive investment with a well-entrenched customer base driven through decades long, technical-service driven relationships.
Drivers of Interest
- Leading North American market position with opportunity to expand geographic footprint and product suite within existing customer facilities.
- Significant recent investment into its production facility allowing for backward integration into key raw materials.
- Employee base comprised of vast technical-service network embedded in customer facilities on a daily basis.