GEO Specialty Chemicals, headquartered in Ambler, has been acquired by CPS Performance Materials a diversified specialty chemicals manufacturer of performance polymers, fine chemical and chemical illumination solutions. CPS is a portfolio company of the New York private equity firm Arsenal Capital Partners.
GEO is a diverse supplier of specialty chemicals and materials to the coatings, adhesives, medical, water treatment and construction markets. The company operates in three divisions – Paints & Coatings, Water Treatment and Specialty & Construction - with leading positions in its primary chemistries from 19 production sites in the U.S. and Europe.
In the recent past, GEO has undertaken a number of expansions to increase its presence in the attractive markets of materials for contact lenses, additives for oil and gas drilling, and municipal and industrial water treatment. This builds upon GEO's already strong position in methacrylate chemistry where it is a leading supplier to the global coatings and adhesives markets. GEO is also the largest U.S. producer of glycine, a key amino acid used in a variety of nutrition and personal care products.
Ken Ghazey, CEO of GEO, will join the board of directors of CPS.
The Valence Group acted as financial adviser to Arsenal and CPS.