Corporate Finance Associates Advises Ultramotive Corp. in the Acquisition By Guy Chemical Company, Inc.
Guy Chemical Company Inc., a specialty manufacturer of silicone-based industrial products, acquired Ultramotive Corp. in a private transaction on September 6. Terms were not disclosed. Guy Chemical, based in Somerset, PA, develops and formulates silicone sealants, silicone greases and epoxy adhesives, and provides contract packaging services for customers in the automotive, industrial and home markets.
"The purchase of Ultramotive is a perfect fit for us," said Guy Berkebile, the founder and CEO of Guy Chemical. "We are growing rapidly and this acquisition will increase our manufacturing capacity and enable us to serve our customers with additional silicone based products." Based in Bethel, VT, Ultramotive Corp. manufactures piston-based dispensing products and provides can filling services using the patented Delbar® piston system. The company has developed special expertise in working with silicones, caulks, greases and lubricants used in the automotive and household products markets.
"We've known Guy Chemical for many years," said Betsy Scheindel, president of Ultramotive, whose late father, Chris, started the company in 1969. "It is a growing company with a great reputation. We share the same work ethic and we look forward to continuing to serve our mutual customers from our plant here in Bethel."
Financial representation was provided by Craig Allsopp, CFA Managing Directors based in Portland, Maine