Graycliff Partners exits HarperLove after six-year hold
Graycliff Partners has sold specialty chemicals provider HarperLove to trade buyer HBM Holdings Company.
Piper Jaffray & Co was the exclusive financial advisor to both parties.
HarperLove provides solutions added to corrugated and paper-based products made by packaging manufacturers.
The firm acquired the North Carolina-based business in April 2014 and after implementing a series of growth initiatives saw HarperLove more than double its profitability.
Graycliff managing partner Duke Punhong said, “HarperLove’s technical and service-oriented expertise has made it a valuable partner to its customers.
“The team has done a tremendous job of expanding the company’s industry leading position.”
Last month, Graycliff hit a $350m hard cap for the final close of its fourth mid-market buyout fund.
The private equity house typically makes control investments in lower middle market companies in the manufacturing, business services, and value-added distribution sectors.
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