Snow Phipps Completes Sale of ArrMaz to Golden Gate

NEW YORK--(BUSINESS WIRE)--Snow Phipps Group, LLC, a New York-based private equity firm, today announced they completed the sale of ArrMaz. ArrMaz is a leading producer of process aids and functional additives for use in mining of phosphates and industrial minerals, fertilizer production and asphalt paving applications.

Snow Phipps purchased ArrMaz in August 2008. Shortly thereafter, Snow Phipps oversaw the retirement of former CEO Glen Varnadoe and CFO Robert Brinkman and the hiring of CEO Hank Waters and CFO Ron Lueptow into their respective roles. In August 2011, ArrMaz acquired Road Science, a developer of innovative patent protected products for the asphalt paving maintenance and repair industry. Throughout Snow Phipps’ ownership, ArrMaz continued to enhance its excellent market position, customer relationships, international growth, technology, manufacturing expertise and management team.

Snow Phipps’ Operating Partner Paul Chellgren served as Chairman of the Board of ArrMaz. Mr. Chellgren brought extensive knowledge and experience to ArrMaz as he has over 30 years of experience in the specialty chemicals industries. Mr. Chellgren served as Chairman and CEO of Ashland Inc. from 1996 to 2002 and also held various corporate officer positions, including President and COO, for 22 years.

“Under our ownership, ArrMaz has continued to grow by providing customers with best-in-class products and services,” said Mr. Chellgren. “Hank Waters [ArrMaz’s CEO] and the entire management team have built an extraordinary business.”

“We believe ArrMaz is well-positioned to continue to grow in both the U.S. and international markets. Our ability to identify a strong market leader in a vital position in the value chain was critical to this successful transaction,” said Sean Epps, a Partner at Snow Phipps. “We were fortunate to have worked with the exceptional management team at ArrMaz.”

“ArrMaz has appreciated the close relationship with Snow Phipps over the course of their ownership,” said Mr. Waters, CEO at ArrMaz. “Paul and the team at Snow Phipps brought invaluable expertise and experience to ArrMaz.”

Snow Phipps’ sellside advisor was Lazard and legal counsel was Weil, Gotshal & Manges LLP.

About ArrMaz

ArrMaz is a leading producer of process aids and functional additives for use in mining of phosphates and industrial minerals, fertilizer production and asphalt paving applications. For more information, please visit http://www.am-cc.com/.

About Snow Phipps

Snow Phipps is a private equity firm focused on small to mid-market control investments. With $1.5 billion of assets under management, Snow Phipps targets companies primarily located in North America with enterprise values ranging from $100 million to $500 million that require equity investments ranging between $40 million and $100 million. The firm was co-founded by Ian Snow and Ogden Phipps in April 2005 and utilizes an Operating Partner strategy seeking to create long-term capital appreciation. To learn more about Snow Phipps, visit www.snowphipps.com.

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