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Investing Activity

Industrials

We are actively seeking investments in variety of sectors, including energy, aerospace, chemicals, building products, distribution, industrial technology, healthcare manufacturing and packaging. Our philosophy is to buy competitively differentiated market leaders and aggressively grow their earnings by prioritizing innovation and capital allocation.

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“The Golden Gate Capital team has brought a blend of sector-area expertise, operating knowledge, and a deep bench of talent that has accelerated the trajectory of ANGUS Chemical Company since Golden Gate completed the carve-out of the business from the Dow Chemical Company in 2015. The Golden Gate team identified an opportunity to drive growth with significant investments in ANGUS’ Life Sciences and Personal Care business segments, including major capacity expansions and the buildout of innovation and sales capabilities. These investments have enabled the company’s transformation into a high-growth, consumer-focused organization.”

– David Neuberger, CEO, ANGUS Chemical Company

*David Neuberger is not an investor in any fund sponsored by Golden Gate Private Equity, Inc. (“Golden Gate”). Mr. Neuberger has not been compensated for any statement regarding Golden Gate; however, he is employed and compensated by a Golden Gate portfolio company and, given his position therewith, may nevertheless feel influenced or incentivized to make positive statements about Golden Gate.

Active Minerals

Active Minerals International is a global market leader in the production and distribution of air-float kaolin and gel-grade attapulgite clays for customers in fiberglass, construction, drilling, agriculture, and concrete end markets, among others. The Company’s products provide highly tangible qualities in customers’ end products: Air-float kaolin strengthens fiberglass for usage in printed circuit boards prior to assembly in electronics end products such as phones, tablets, and automobiles. Gel-grade attapulgite is used to increase viscosity of mixtures in a variety of end markets including joint tape compounds used for wallboard construction, and paints & coatings to prevent settling and hard packing. Active Minerals International is headquartered in Sparks, Maryland.

www.activeminerals.com

Active Minerals

ANGUS

ANGUS is the world’s only company dedicated to the manufacture and distribution of nitroalkanes and their derivatives, which are extremely versatile additives and intermediates that help customers to enhance their products’ performance. Industries successfully using ANGUS’ nitroalkanes and their derivatives include paints and coatings, life sciences and biopharma, metalworking, personal care, pharmaceuticals, water treatment, oil & gas and many others. ANGUS is headquartered in Buffalo Grove, Illinois.

www.angus.com

ANGUS

Antylia Scientific

Antylia Scientific is a leading designer, manufacturer, and distributor of specialty lab equipment, with particular expertise in fluid handling and test & measurement. The Company sells products and services to a global network of over 120,000 laboratory managers, scientists, and independent dealers across a wide range of end market applications in healthcare, biotech, pharmaceutical, environmental, and other general industrial markets. Headquartered in Vernon Hills, Illinois, Antylia Scientific has approximately 775 employees across nine locations in North America, Europe and Asia.

www.antylia.com

Antylia Scientific

Ardian Acquires 50% Ownership Stake in ANGUS Chemical Company

• Golden Gate will retain 50% ownership stake
• Partnership positions ANGUS for accelerated global growth

NEW YORK & SAN FRANCISCO & BUFFALO GROVE, Ill.–(BUSINESS WIRE)–Ardian, a world leading private investment house, today announced that it has acquired a 50-percent ownership stake in ANGUS Chemical Company (“ANGUS” or the “Company”) from Golden Gate Capital at a total enterprise value of approximately $2.25 billion. Golden Gate Capital, which initially acquired ANGUS in February 2015 from The Dow Chemical Company, will retain a 50-percent stake in ANGUS. Additional terms of the transaction were not disclosed.

Founded in 1935, ANGUS is the world’s only company dedicated to the manufacture and distribution of nitroalkanes and their derivatives. Through its proprietary technology, the Company produces a unique portfolio of specialty additives and high-performance intermediates, which help customers deliver enhanced product and process performance across a wide range of applications in life sciences, personal care and high-growth industrial markets. In addition, ANGUS’ solutions are widely used in applications to help combat the spread of COVID-19, including high-alcohol hand sanitizer gels, diagnostic kits, antibody treatments and vaccines.

Over the last five years, Golden Gate Capital has meaningfully grown the business while repositioning it to focus on premium consumer applications. Ardian and Golden Gate Capital will partner with ANGUS President and CEO David Neuberger and the Company’s current senior management team to grow the business through continued focus on and investment in core markets supplemented by development of application adjacencies and of new-to-world molecules.

Thibault Basquin, Head of Americas Investments at Ardian Buyout stated, “Management and Golden Gate Capital have built an impressive Company and we are delighted to partner with them on this next phase of growth. ANGUS plays a critical role in the life sciences and personal care value chains, and its products have supported dozens of essential businesses over the last few months. With Ardian’s global reach and together with Golden Gate Capital, we plan to accelerate the Company’s growth and provide ANGUS’ customers with a compelling range of products. We have deep expertise and an extensive network in the sectors served by ANGUS, and we intend to support the Company in the implementation of a global buy & build strategy, similar to our approach with other successful investments.”

Dave Thomas, a Managing Director at Golden Gate Capital, said, “We have enjoyed a highly successful partnership with David Neuberger and the entire ANGUS team over the past five years. Since our initial investment, ANGUS has driven exceptional growth and strengthened its global business through significant investments in the Company’s life sciences and personal care business segments, including major capacity expansions and the buildout of innovation and sales capabilities. These investments have enabled ANGUS’ transformation into a high-growth organization. With this strong foundation in place, we look forward to supporting ANGUS’ continued growth alongside Ardian.”

David Neuberger, President of ANGUS, said, “Ardian’s interest in ANGUS is a testament to our resilience, consistent growth, talented team and the extraordinary value of our current product portfolio and R&D pipeline. Likewise, Golden Gate Capital’s continued ownership in ANGUS is a testament to their belief in our future prospects. Over the course of our five-year relationship, we established ANGUS as an independent company; transformed our business into a stable, consumer-focused organization; increased our capacity for key chemistries like TRIS AMINO™ tromethamine; and enabled our customers’ own growth plans. The management team is excited to have the combined support of Ardian and Golden Gate Capital. We are confident that they share our strategic vision as we accelerate the growth of our innovative, high-demand chemistries.”

Christopher Sand, Director at Ardian Buyout added, “Over the last five years, ANGUS has prospered. ANGUS’ highly-regarded management team, unique product set, resilience, and growth prospects – both organic and via acquisition – makes it an ideal investment for Ardian, and we look forward to partnering with Golden Gate Capital.”

The transaction is expected to close by the end of 2020.

With seven offices in Europe and America, Ardian’s global Buyout team acquires high-quality mid and large-cap companies across Western Europe and North America, applying transformational and multi-cultural buy-and-build strategies which enable portfolio companies to become global leaders in their respective sectors.

Citi and Guggenheim Securities LLC are serving as financial advisors to Ardian and Latham & Watkins is serving as the firm’s legal advisor.

Morgan Stanley & Co. LLC and JPMorgan Securities LLC are serving as financial advisors to Golden Gate Capital and Kirkland & Ellis LLP and Nob Hill Law Group, P.C. are serving as the firm’s legal advisors.

ABOUT ARDIAN

Ardian is one of the world’s leading private equity firms with $100 billion under management and/or advisory in Europe, America and Asia. The company, which is majority owned by its employees, has always placed entrepreneurship at the heart of its approach and offers its international investors top-tier performance. Through its commitment to sharing the value created with all stakeholders, Ardian participates in the growth of companies and economies around the world. Based on its values of excellence, loyalty and entrepreneurship, Ardian benefits from an international network of 700 employees in 15 offices in Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), North America (New York, San Francisco), South America (Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). The company manages the funds of 1,000 clients through its five investment pillars: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

Follow Ardian on Twitter @Ardian

www.ardian.com

ABOUT GOLDEN GATE CAPITAL

Golden Gate Capital is a San Francisco-based private equity investment firm with over $17 billion of committed capital. The principals of Golden Gate Capital have a long and successful history of investing across a wide range of industries and transaction types, including going-privates, corporate divestitures, and recapitalizations, as well as debt and public equity investments. Notable investments sponsored by Golden Gate Capital include U.S. Silica, EP Minerals, Cole-Parmer and Vantage Elevator Solutions.

www.goldengatecap.com

ABOUT ANGUS CHEMICAL COMPANY

ANGUS is a leading global specialty and fine chemical company dedicated to the development of novel chemistries that deliver enhanced product and process performance across a wide range of applications in pharmaceuticals, biotechnology, paints and coatings, agriculture, personal care, metalworking fluids, electronics and other industrial markets. The company innovates through its unique nitroalkane chemistries, including its flagship AMP™ (aminomethyl propanol) multifunctional additives and TRIS AMINO™ tromethamine, which are produced at fully integrated, ISO 9001-certified manufacturing facilities in Sterlington, Louisiana, USA, and Ibbenbüren, Germany. ANGUS serves its global customers through six regional Customer Applications Centers located in Chicago, Illinois; Paris, France; São Paulo, Brazil; Singapore; Shanghai, China; and Mumbai, India. The company is headquartered in Buffalo Grove, Illinois.

www.angus.com

Contacts
ARDIAN
The Neibart Group
Emma Murphy
+1 347 968 6800

GOLDEN GATE CAPITAL
Sard Verbinnen & Co.
Hayley Cook/Tori Goodell

ANGUS CHEMICAL COMPANY
Scott Johnson
+1 847-808-3769

Ardian Acquires 50% Ownership Stake in ANGUS Chemical Company

Ardian Acquires 50% Ownership Stake in ANGUS Chemical Company skip

Covia

Covia is a leading provider of diversified minerals and material solutions for the industrial and energy markets. The company was formed in 2018 through the combination of Unimin and Fairmount Santrol, and produces a range of specialized silica sand, feldspar, nepheline syenite, calcium carbonate, clay and kaolin products. Through its predominantly North American footprint, the company provides industrial customers with whole-grain and custom-blended products, and oil and gas customers with proppants and oilfield minerals used in hydraulic fracturing. Covia is headquartered in Independence, Ohio.

www.coviacorp.com

Covia

GOLDEN GATE CAPITAL ACQUIRES TRONAIR

SAN FRANCISCO, CA and HOLLAND, OH – Golden Gate Capital, a leading private equity investment firm, today announced that it has acquired Tronair Parent, Inc. (“Tronair” or “the Company”) from Levine Leichtman Capital Partners. Tronair will remain headquartered in Holland, Ohio and will continue to be led by its current senior management team, including President and CEO Harley Kaplan. Terms of the transaction were not disclosed.

Founded in 1971, Tronair is the global leader in the design, manufacture, and sale of ground support equipment (“GSE”) for business, commercial and military aircraft. Tronair’s diverse and unparalleled range of high quality GSE product lines – comprised of over 1,000 SKUs – are used by over 300 unique aircraft platforms. Tronair is the market leader in its core products and market segments, serving leading aircraft OEMs such as Bombardier, Gulfstream, Embraer, Boeing and Airbus; fixed based operators; maintenance and repair providers; corporate hangars; commercial airlines; defense contractors; and military airbases around the world.

“Tronair has successfully differentiated itself through best-in-class engineering capabilities and a collaborative customer approach, resulting in innovative solutions that support safe and efficient aircraft ground operations. We are excited to partner with Tronair management as the Company continues to execute on its strategy to build the industry’s leading ground support equipment platform,” said Rajeev Amara, Managing Director at Golden Gate Capital. “Our investment in Tronair demonstrates our commitment to partnering with high quality aerospace and capital equipment businesses to turbocharge their growth and enhance their strategic relevance.”

Harley Kaplan, Tronair’s President and CEO, commented, “We look forward to working with Golden Gate Capital to continue our positive momentum in the marketplace – driving growth throughout our product portfolio by continuing to deliver value for our customers. With Golden Gate Capital’s operational expertise and financial support, we will be well-positioned to bolster our market leading position while continuing to deliver the high quality, innovative products and leading customer service for which we are known.”

Houlihan Lokey served as financial advisor to Golden Gate Capital in connection with the acquisition.

About Golden Gate Capital
Golden Gate Capital is a San Francisco-based private equity investment firm with over $15 billion of capital under management. The principals of Golden Gate Capital have a long and successful history of investing across a wide range of industries and transaction types, including going-privates, corporate divestitures, and recapitalizations, as well as debt and public equity investments. Other notable industrials investments sponsored by Golden Gate Capital include US Silica, EP Minerals, ArrMaz, Humanetics Innovative Solutions, Springs Window Fashions, ANGUS Chemical Company and Atrium Windows. For more information, visit www.goldengatecap.com.

About Tronair
Tronair, based in Holland, Ohio, is the global leader in the design, manufacture, and sale of ground support equipment (“GSE”) for business, commercial and military aircraft. Tronair’s broad and innovative product line of GSE, comprised of over 1,500 products, is used by over 350 unique aircraft platforms. Tronair is the market leader in its core products and market segments, serving leading aircraft OEMs (e.g., Bombardier, Gulfstream, Embraer, Boeing and Airbus), fixed based operators, maintenance and repair providers, corporate hangars, commercial airlines, defense contractors and military airbases around the world.

Media Contacts

For Golden Gate Capital:
Jenny Gore / Alyssa Linn
(312) 895-4700 / (310) 201-2040

For Tronair:
Josh Green
(419) 724-5710

GOLDEN GATE CAPITAL ACQUIRES TRONAIR

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GTCR and Golden Gate Capital Announce Recapitalization of Cole-Parmer Instrument Company

GTCR and Golden Gate Capital announced today that they have signed a definitive agreement to recapitalize Cole-Parmer Instrument Company (“Cole-Parmer”, or the “Company”) alongside CEO Bernd Brust and the Cole-Parmer management team. As part of the transaction, GTCR will acquire a majority stake in Cole-Parmer, while Golden Gate Capital and management will retain a significant minority stake in the business. The financial terms of the transaction were not disclosed.

Founded in 1955, Cole-Parmer is a leading global manufacturer of peristaltic, temperature monitoring, and environmental precision equipment and related consumables used in both research and production applications for a diverse range of customers across the life sciences, healthcare, environmental and industrial end-markets.

GTCR initially acquired Cole-Parmer from Thermo Fisher Scientific in 2014. In executing its Leaders Strategy™, GTCR partnered with Mr. Brust to evaluate opportunities in the life sciences industry, ultimately leading to the acquisition of the Company. Following the successful carve out from Thermo Fisher, Cole-Parmer made significant investments in its products and commercial infrastructure to drive organic growth and completed several strategic add-on acquisitions to improve the Company’s proprietary product mix, scale and geographic footprint.

Since GTCR’s sale to Golden Gate Capital in 2017, Cole-Parmer has evolved into a larger, higher-growth business with an expanded presence supplying pharmaceutical and biotechnology customers with mission-critical solutions. Under Golden Gate Capital’s ownership, Cole-Parmer has completed multiple strategic acquisitions that have expanded its product portfolio, global operations, and exposure to secularly-growing end-markets. The Company has also made significant investments in its cloud-based technology infrastructure, catalyzing faster and more efficient workflows for its customers.

GTCR and Golden Gate Capital will partner with Mr. Brust and the Cole-Parmer management team to grow the business through organic growth initiatives and continued strategic M&A in the fragmented life sciences and laboratory products sectors. Cole-Parmer will continue to be led by its current senior management team and will remain headquartered in Vernon Hills, IL.

Bernd Brust, CEO of Cole-Parmer, said: “We are grateful to Jim Rauh and the Golden Gate Capital team for their collaboration, and are very proud of the strategic and operational progress we have made. Together, we have been able to execute on numerous growth initiatives, including a deepened focus on product innovation, establishing us at the forefront of our industry. We are delighted to be renewing our successful partnership with GTCR and look forward to working with both firms, who share our vision and commitment to continuing Cole-Parmer’s evolution into a diversified products company focused on the life sciences, healthcare and environmental end-markets.”

Sean Cunningham, a Managing Director at GTCR, added: “This represents another excellent example of GTCR executing The Leaders Strategy™. We are thrilled to partner with Bernd and the management team a second time. Cole-Parmer has continued its shift to become a life sciences-focused products business. We look forward to partnering with Golden Gate Capital to support the company’s growth going forward.”

Jim Rauh, a Managing Director at Golden Gate Capital, said: “We have enjoyed a very successful partnership with Bernd and the Cole-Parmer team over the last few years. We are proud to have helped Cole-Parmer continue to develop into a premier life-sciences platform and become the acquirer of choice in a fragmented market. We look forward to supporting Cole-Parmer’s continued growth alongside the Company’s management team and GTCR.”

Dean Mihas, a Managing Director at GTCR, added: “Bernd and the entire Cole-Parmer team have done an exceptional job transforming the business since the carve out from Thermo Fisher. They have a track record of success and we are excited to once again partner with them to invest in the long-term growth of the Company.”

The transaction is expected to close in the fourth quarter of 2019.

Jefferies LLC served as financial advisor to the Company. Latham & Watkins provided legal counsel to GTCR. Baird served as financial advisor and Kirkland & Ellis and Nob Hill Law Group P.C. provided legal counsel to Golden Gate Capital.

About Cole-Parmer

Founded in 1955, Cole-Parmer is a leading global source of fluid handling, test & measurement, environmental and biosciences instrumentation and associated consumables. We are proven experts in the fields of peristaltic technologies, temperature measurement and control, electrochemistry, water & air testing and chromatography. Cole-Parmer’s portfolio of unique industry-leading brands includes Masterflex®, Environmental Express™ and Traceable®. Cole-Parmer’s products are used in both research and production applications for a diverse range of customers across the life sciences, healthcare, environmental, and industrial end-markets. For more information, please visit www.coleparmer.com.

About GTCR

Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Growth Business Services, Technology, Media & Telecommunications, Healthcare and Financial Services & Technology industries. The Chicago-based firm pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $15 billion in over 200 companies. For more information, please visit www.gtcr.com.

About Golden Gate

Golden Gate Capital is a San Francisco-based private equity investment firm with over $15 billion of committed capital. The principals of Golden Gate Capital have a long and successful history of investing across a wide range of industries and transaction types, including going-privates, corporate divestitures, and recapitalizations, as well as debt and public equity investments. Notable investments sponsored by Golden Gate Capital include Active Minerals, U.S. Silica, EP Minerals, ANGUS and Vantage Elevator Solutions. For more information, visit www.goldengatecap.com.

Media Contacts

For GTCR:
Kellie Kennedy
312-933-4903

For Golden Gate Capital:
Sard Verbinnen & Co
Jenny Gore / David Isaacs
312-895-4700 / 415-618-8750

For Cole-Parmer:
Mina Canning
972-536-1813

GTCR and Golden Gate Capital Announce Recapitalization of Cole-Parmer Instrument Company

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Stonehill

Stonehill Environmental Partners (“Stonehill”) is an environmental infrastructure and services company serving the oil and gas industry. The company focuses on designing, developing, owning, and operating midstream assets related to the recycling and disposal of produced water, with a focus on the Permian Basin. Compared to legacy truck-based solutions, Stonehill’s platform dramatically reduces greenhouse gas emissions, minimizes the risk of environmental contamination, and improves worker safety by minimizing truck accidents. Stonehill is headquartered in Denver, CO.

www.sh-ep.eco

Stonehill

Vantage

Vantage is a leading North American elevator component manufacturer, providing a broad portfolio of made-to-order parts that includes nearly every electromechanical component used in elevator systems: door operators and associated door equipment, geared and gearless traction machines, universally compatible microprocessor controllers, safety components, signal fixtures, push button panels, and structural assemblies. Vantage sells its products to independent elevator service companies and OEMs engaged in the installation, maintenance and modernization of elevators. Vantage comprises a portfolio of well-known and long-tenured elevator components brands, dating back to its founding as G.A.L. in 1927, and is headquartered in Bronx, NY.

www.vantageelevation.com

Vantage

VORTO

VORTO is the largest software platform in the energy sector that automates shipper and trucking carrier logistics, and provides an online marketplace for procurement of trucking and commodities. The platform has now extended into non-energy sectors. The company is headquartered in Denver, CO.

www.vorto.ai

VORTO

West Branch Holdings

West Branch Holdings is a holding company of short line railroad and railroad service assets. The company was established in 2015 with the acquisition of the Delta Southern Railroad, a short line railroad serving chemicals, aggregates and agriculture operations out of Monroe and Tallulah, Louisiana.

West Branch Holdings