San Francisco-based private equity firm Swander Pace Capital has invested in Recochem Inc., a chemical products company.
Retrochem, headquartered in Montreal, is Swander Pace's 10th Canadian investment in the last decade. The target produces, formulates and markets specialty consumer and industrial chemical products for retailers, as well as the automotive and heavy-duty vehicle industries.
Terms of the deal were not disclosed.
Previous Canadian investments include Pineridge Bakery, which the firm sold in Marchto Aryzta AG for $340 million. The firm is also invested in Lavo Inc., a household cleaning products company, and Kicking Horse Coffee, a coffee brand.
In April, the firm announced that it recently closed a $350 million fund, SPC Partners V LP. The Recochem investment was made from the new fund.