Dresner Partners Advises Remet in Acquisition of Calwax
|Wednesday, November 14, 2007|
CHICAGO – November 14, 2007 – Dresner Partners, a leading middle-market investment bank, announced today that it acted as exclusive financial advisor to Remet Corporation in its acquisition of Calwax. Terms of the transaction were not disclosed.
Remet Corporation is a leading manufacturer and distributor of waxes, binders, refractory grains and other investment casting consumable products. Remet is also a manufacturer and distributor of denatured alcohol products to the food flavoring, cosmetics and pharmaceutical industries. With headquarters and research & development facilities in Utica, New York and operations in Mesa, Arizona, La Mirada, California and Rochester, United Kingdom, Remet has long-term relationships with more than 1000 customers throughout the world.
Calwax is a California based company that has been manufacturing and blending specialty waxes for over 40 years. Calwax develops, engineers and markets contract manufacturing services for custom wax applications in a number of niche markets that include candle, spa, wine and packaging.
“Calwax is a strategic acquisition that will add critical mass to our growing Enhanced Wax Products business” said John Paraszczak, president of Remet. “The Dresner team was very helpful in recognizing the opportunity with Calwax and bringing it to completion.”
“Remet Corporation has been an important client of our firm for five years, and this acquisition is the latest in a series of strategic and financial transactions that have further solidified Remet’s position as a global leader in wax applications” said Steven M. Dresner, president of Dresner Partners.
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