Deloitte Corporate Finance LLC Advises Stellex Capital Management LP and Another Private Equity Group on the Acquisition of Grammer Industries, Inc.
CHARLOTTE, NC, Nov. 5, 2018 — Deloitte Corporate Finance LLC (Deloitte) acted as financial advisor to Stellex Capital Management LP (Stellex) and another private equity firm in their acquisition of Grammer Industries, Inc. (Grammer). Grammer is a leading Indiana-based transportation and logistics company for specialty and hazardous chemicals. Its current management team, under the leadership of CEO Bart Middleton and Vice President John Whittington, will stay with the company and will continue to drive its current path of growth. The acquisition closed Oct. 1, 2018.
Stellex is a New York-based private equity firm that primarily focuses on middle-market companies.
“We believe a combination of strong U.S. economic growth and an abundant supply of low cost natural gas feedstock is currently driving growth in the domestic production of commodity and specialty chemicals, while tight truck load capacity has created a favorable pricing environment for companies, like Grammer, that can transport them safely and efficiently,” said Jonathan Adams, managing director and head of transportation and logistics at Deloitte Corporate Finance LLC. “In this transaction, Stellex and the other private equity firm have acquired a high quality operator in the sector, and have augmented its board with seasoned logistics and chemical executives, as well as the vision and experience to transform the company into a premier provider of integrated chemical logistics.”
About Stellex Capital Management LP
Stellex is a private equity manager that invests in and oversees U.S. and European corporate assets. Stellex’s focus is on middle-market companies going through business or industry transitions, as well as special situation opportunities. Stellex seeks to identify and deploy capital in opportunities that have the potential to provide stability, improvement and growth for its portfolio companies.
About Grammer Industries, Inc.
Based in Columbus, Indiana, Grammer was founded by Charles “Shorty” Whittington as a niche carrier servicing the agriculture industry by hauling anhydrous ammonia. The company has grown steadily over time, adding new products and expanding its geographical base. Grammer stands on its foundation of safety and high-quality customer service as the key components of its longevity and success.
About Deloitte Corporate Finance LLC
Deloitte Corporate Finance LLC provides strategic advisory services and M&A advice that help corporate, entrepreneurial and private equity clients create and act upon opportunities for liquidity, growth and long-term advantage. With an in-depth understanding of the marketplace and access to a global network of investment bankers, we help clients confidently pursue strategic transactions in both domestic and global markets. Deloitte Corporate Finance, together with the Corporate Finance Advisory practices within the Deloitte Touche Tohmatsu Limited network of member firms, include in excess of 1,900 professionals who work collaboratively across 150 international locations. With our significant experience providing investment banking services across key industries, we are able to offer our clients solutions that help them to achieve their strategic objectives. For more information, visit www.investmentbanking.deloitte.com.
Prior engagement performance is no guarantee of future performance and may not be representative of the experience of other clients. This communication is for informational purposes only and is not intended as an offer or solicitation for the purchase or sale of a security.
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