Investment firm Pritzker Private Capital has acquired a stake in materials firm Vertellus for an undisclosed price.
Chicago-based PPC is investing in Vertellus along with President and CEO John Van Hulle and other members of the management team of the Indianapolis-based company, officials said in a Jan. 5 news release. Van Hulle and existing management will continue to lead the business.
"Vertellus is a leading specialty chemicals manufacturer with strong growth prospects and a compelling market opportunity," PPC Principal Thomas Chadwick said in the release. "The company plays an important role in the development and production of in-demand consumer and industrial products, and we look forward to supporting Vertellus on its continued expansion and innovation excellence."
Van Hulle added that the partnership with PPC "will help us build upon Vertellus' leading standard of quality, service and safety as we advance our growth strategy … PPC is the ideal partner for our exciting next chapter."
Vertellus operates 10 global plants and generates about 20 percent of its sales from the plastics market, making products such as Zemac-brand copolymer additives and Citroflex-brand bioplasticizers.
The specialty chemicals firm traces its history to 1857. The firm makes more than 700 materials that are used in medical devices, vitamins, health and beauty, crop protection, fuel and lube and other products.
PPC's other holdings include major plastics firms Plaskolite LLC of Columbus, Ohio; ProAmpac of Cincinnati; and Technimark LLC of Asheboro, N.C. Plaskolite is a leading sheet producer, while ProAmpac is a major maker of flexible packaging and Technimark is a major player in injection molding.