Compounder Techmer PM gets new majority owner

Private equity firm Gryphon Investors has bought a majority stake in Clinton, Tenn.-based Techmer PM LLC, said to be one of the largest compounders and concentrate makers in North America.

The terms of the deal have not been disclosed.

Founded in 1981, Techmer has customers in a diverse set of global markets, serving consumer products and packaging, healthcare, and building product OEMs. Techmer operates six production sites in North America: five in the U.S. and one in Mexico.

Techmer management, which includes founder John Manuck, and investment firm SK Capital will retain minority stakes in the firm, Gryphon officials said in a Sept. 7 news release, and Techmer CEO Mike McHenry and the Techmer existing management team will all retain their positions. SK Capital was the former majority stakeholder in Techmer.

“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,” McHenry said in the release. “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 maximize its potential in enabling brand success for our customers.”

The deal is San Francisco-based Gryphon’s fourth investment in the materials and chemicals sector. The firm’s previous acquisitions include Pacur, a supplier of specialty plastic packaging materials for the medical device industry; Kano, a branded penetrating oils and lubricants producer; and Vivify Specialty Chemicals, a provider of specialty organic colorants, functional ingredients, and additives.