Tilly-Phoenix Group, a U.S. based specialty ingredients distributor and portfolio company of SK Capital Partners, has acquired Callahan Chemical Company, a regional distributor of ingredients and compounds for various end-markets.
Callahan is a distributor offering chemical distribution services specialized for individual customer requirements. The firm delivers its products to food and beverage, personal care and cosmetics, pharmaceuticals and nutraceuticals, HI&I, and CASE industries. Callahan delivers value-added services including regulatory and technical support, custom formulation, in house laboratory quality assurance, storage and packaging and repackaging.
The deal supports Tilley’s goal of establishing a premier supplier of high-quality ingredients with a value-added service offering. Following the deal, the firm intends on continuing M&A opportunities focused on specialty products.
“We are extremely pleased to complete the acquisition of Callahan Chemical, believing it represents a highly complementary business with shared values and vision as a specialty-focused distributor supported by a strong value-added service foundation,”said Jean-Paul Benveniste, president and CEO of Tilley-Phoenix. “We look forward to partnering with the Callahan team as we enhance the value we bring to existing and new customers.”
Klehr Harrison LLP acted as legal counsel to Tilley-Phoenix and committed debt financing was led by Madison Capital Funding LLC.