Unifrax, the leading global provider of high-performance specialty materials backed by Clearlake Capital Group, L.P., announced it has acquired Stellar Materials, LLC, a manufacturer of highly proprietary, mission-critical and innovative specialty chemistries and materials.
Financial terms of the transaction were not disclosed.
“This acquisition represents another positive step in the continued implementation of our long-term growth strategy and our focus on delivering energy efficient, environmentally friendly solutions that protect people and products around the globe,” said John Dandolph, President and CEO of Unifrax. “The addition of Stellar and the Thermbond® brand expands our portfolio of solutions in high temperature applications, enhances our overall manufacturing capabilities and supports our mission for a ‘Greener, Cleaner and Safer’ world. We are excited to add the Stellar team to our global Unifrax family and to work together as we execute on our compelling combined growth plan.”
David Mintz, President of Stellar, added “We’re thrilled to become part of the Unifrax growth story and we are confident the combination of our two businesses will allow us to grow and build upon our legacy of customer service, product quality and focused attention to solve customers’ greatest refractory challenges.”
“John Dandolph and his team have consistently demonstrated an ability to grow Unifrax by delivering innovative new products and technologies to its customers,” said José E. Feliciano, Co-Founder and Managing Partner at Clearlake, and Colin Leonard, Partner at Clearlake. “The addition of Stellar’s capabilities enhances Unifrax’s specialty materials market leadership and delivers even greater value to customers. The company’s vision of growth both organically and through its strategic M&A program is consistent with our philosophy of entrepreneurial ownership, and we are delighted to be Unifrax’s long-term partner.”
“We are excited to support the Unifrax team and believe this acquisition is a compelling example of our O.P.S.® framework to accelerate growth inorganically and drive technological innovation in the sector,” added Nate Mejías, Vice President at Clearlake.
Unifrax’s acquisition of Stellar was supported by financing arranged by Morgan Stanley and Stifel. BMO Capital Markets served as financial advisor to Stellar on the transaction.
