19 Nov 2018
Manchester based Camlee Group recently acted as lead financial adviser to DVM Pigments and Additives, as well as, DVM Curatives on their sale to CHAT Investments.
CHAT is the joint UK investment arm of Textile Rubber & Chemical Co (TRCC) and other unnamed principals, who bring more than 100+ years of combined latex, dispersion and emulsion experience to DVM.
Headquartered in Dalton, Georgia, USA, TRCC is an international business involved in the manufacture and distribution of a wide range of innovative chemicals, products and technologies. The acquisition of DVM is expected to significantly enhance the capabilities and market reach of TRCC and its partners.
Based in Chorley, DVM specialises in the manufacture and supply of aqueous pigment dispersions, supplemented by the supply of both organic and inorganic pigments, biocides and additives. The Company operates from two premises comprising a total of 21,000sq. ft from which it serves a global client base. With a historic focus on technical expertise, quality, research and development, DVM possesses a mature and attractive product base. These are primarily supplied into eight core sectors; the paint, education supply, wood, paper, gloves, adhesives, ink and balloon markets.
David Maltman the founder of DVM will remain in the position of vice-president & general manager for the foreseeable future, alongside the business development director Paul Saunders, assisting CHAT in its expansion plans. David commented, “DVM and Camlee spent 2 years finding the right organisation to acquire the business. Having had discussions with a number of parties before making a decision, we’re confident that CHAT Investments, with their associated businesses represents the best profile for the long-term development of DVM”.
Chip Howalt, President of TRCC added “The Textile Rubber Group of companies is extremely excited with the addition of DVM Pigments and Additives. Together with our global networks, we look forward to further enhancing DVMs range of products to the world. We hope to continue David and DVMs good work and add to DVMs own range of products to offer.”
Jessica Bradbury, corporate finance executive at Camlee, who worked with managing director, Lee Wojtkiw on the transaction commented: “It’s been quite clear that while the shareholders wanted a solution that allowed them to exit on agreeable terms, the future success of DVM and its staff remains of great importance to them. We’re very pleased to have assisted in a deal that facilitates both these objectives and wish all parties every success in the future.”
Jon Davage and Robin Hastings of Bermans solicitors provided legal advice to the shareholders of DVM, whilst CHAT received advice from Jim Bisson of The Minor Firm in the US, as well as Maka Yunus and Sarah Riley of DLA Piper in the UK.