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New Deal


Announced

Brenntag-backed Coastal Chemical to acquire Tech Management from Clearlake-backed Gravity.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Single Bidder

chemicals manufacture

Private Equity

Domestic

Acquisition

United States

Specialty Chemicals

Majority

Pending

Friendly

Private

Synopsis

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Brenntag-backed Coastal Chemical, a firm serving the upstream, midstream and downstream segments of the oil and gas industry, agreed to acquire Tech Management from Clearlake-backed Gravity, a provider of energy infrastructure services. Financial terms were not disclosed. "There is a strategic fit between Brenntag and Tech Management, and this sale allows Gravity to increase its efforts on its core, growth focused water logistics and power generation business lines for customers operating primarily in the Permian, the Bakken, and other key basins," José E. Feliciano and Colin Leonard, Clearlake Co-Founder and Managing Partner and Partner and Managing Director.

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