TJC to acquire DuPont’s De lrin acetal homopolymer bu siness; plus a food deal f rom Vestar Capital Partners

View this email online

TJC to acquire DuPont’s Delrin acetal homopolymer business; plus a food deal from Vestar Capital Partners

Good morning dealmakers. Obey Martin Manayiti here with today’s Wire, filling in for MK Flynn.

We will start with New York-based TJC (formerly known as The Jordan Company) announcing plans to acquire a majority ownership stake in Delrin from DuPont.

I will also feature a deal in which O2 Investment Partners-backed SIB Holdings made an investment in ProcureAmerica, a provider of contingency-based, cost reduction and contract compliance services.

We will then switch up things and have a look at a food related deal from Vestar Capital Partners portfolio company Roland Foods that is acquiring Gurnee, Illinois-based ifiGOURMET.

Manufacturing

DuPont has agreed to sell a majority ownership stake in its Delrin acetal homopolymer business to TJC. The transaction values the business at $1.8 billion.

Delrin acetal homopolymer is designed to replace metal in equipment used in markets including electronics, transportation, construction, water, healthcare and worker safety. That includes gears, door system components, conveyor system components, medical delivery devices, ski bindings, zip fasteners and others.

The transaction is expected to close by the end of the year.

For more details, please subscribe to the premium version of the Wire.

Business intelligence

SIB Holdings, which is backed by O2 Investment Partners, has made an investment in San Juan Capistrano, California-based ProcureAmerica, a provider of contingency-based cost reduction and contract compliance services.

Based in Charleston, South Carolina, SIB is a provider of invoice analysis, vendor management and contract compliance.

Dessert time

Vestar Capital Partners-backed Roland Foods has acquired Gurnee, Illinois-based ifiGOURMET, an importer of gourmet dessert products and ingredients from around the world.

Roland Foods is a provider of fine global ingredients.

Upgrade to the premium version of the Wire for more on this deal.

For more on this sector, check out this story with six PE-backed deals focusing on snacks that I wrote earlier in the year.

That’s it for me today.

PE Hub editor-in-chief MK Flynn will be back with the newsletter tomorrow.

Cheers,

Obey

Read the full Wire commentary on PE Hub ...

Also of note (may require subscriptions)

At the same time that fundraising has slowed to levels not seen since right after the global financial crisis, some GPs are pushing hard to infuse their fund LPAs with terms many LPs consider obnoxious. (Buyouts)
Blackstone’s Strategic Partners and JPMorgan’s secondaries group have taken lead investor roles in Aterian Investment Management’s process to move its asset Vander-Bend Manufacturing into a continuation fund, sources told Buyouts.
A more challenging fundraising environment for private markets is putting an end to massive jumps in fund size, according to Private Equity International’s Private Fund Leaders Survey 2023.
UK-based credit manager Hayfin Capital Management has closed its latest direct lending fund above its €6 billion target. (Private Debt Investor)