Founded in 1981, Techmer PM is known for its development of innovative materials which add functionality to materials, including fast-growing technologies, such as composites and additive manufacturing, according to a joint press release by Techmer PM and Gryphon Investors. The company serves customers across a diverse set of global markets serving many leading consumer products and packaging, healthcare, and building product OEMs. Techmer PM CEO Mike McHenry will continue to lead the company, supported by the existing management team.
“The Techmer team has significantly improved the overall business performance in a very challenging market environment. We are excited by the additional support, expertise, and resources that will come from Gryphon's investment,” said McHenry. “We have a number of commercial strategies to expand our offering and deliver first-class service to a diverse customer base, and we believe that Gryphon, alongside SK Capital, gives us additional operational and capital resources to help Techmer maximise its potential in enabling brand success for our customers.”
Techmer PM represents Gryphon's fourth investment in the materials and chemicals sector. The firm's previous acquisitions include Pacur, a market-leading supplier of specialty plastic packaging materials for the medical device industry; Kano, a branded penetrating oils and lubricants producer; and Vivify Specialty Chemicals, a leading provider of specialty organic colorants, functional ingredients, and additives.
“With our investment in Techmer PM, we are excited to partner with another leader in the advanced materials space,” said Craig Nikrant, Gryphon operating partner. “Techmer PM is at the forefront of delivering functional performance in some of the most critical and active areas of today's economy, including weather resistance, light-weighting, and sustainable materials.”
“We see great potential for the company to grow its global reach and continue investing in technologies and capabilities that enable its customers to deliver the most innovative and complex projects. We look forward to partnering with Mike, his management team, and SK Capital as we work together to identify and pursue organic growth opportunities and strategic acquisitions,” said deal partner and head of the Industrial Growth Group at Gryphon Leigh Abramson.
Techmer PM operates six production sites strategically located throughout North America, serving customers globally. It focuses on high-performance applications where quality, technical support, and problem-solving are critical in the design and delivery of engineered materials, added the release.
Piper Sandler and Guggenheim Securities served as financial advisors to Techmer and Gryphon in this transaction, respectively.
Fibre2Fashion News Desk (NB)