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Grey Mountain Partners has sold Dimex LLC to Westlake Chemical Corporation (NYSE: WLK). Since partnering with Dimex in December 2013, Grey Mountain aimed to enhance its manufacturing capabilities and product range, including landscape edging and marine dock edging. Dimex is recognized as a sustainable manufacturer serving diverse markets for over 30 years. With a dedicated management team and over 300 employees, Dimex has emphasized high-quality production and customer service. William Blair & Company acted as the exclusive financial advisor for this transaction.
Positive
Dimex's sale to Westlake could lead to enhanced resources and capabilities for the company.
Dimex has a strong reputation as a sustainable manufacturer with over 30 years in the market.
Negative
The management change may disrupt Dimex's current operations and strategy post-acquisition.
BOULDER, Colo.--(BUSINESS WIRE)--
Grey Mountain Partners (“Grey Mountain”) has sold Dimex LLC (“Dimex” or the “Company”) to Westlake Chemical Corporation (NYSE: WLK) (“Westlake”). Grey Mountain partnered with the Company in December 2013 with the goal of expanding Dimex’ world-class manufacturing capabilities and its portfolio of plastic products including landscape edging; industrial, home and office matting; marine dock edging; and masonry control joints. We are grateful for the opportunity to have worked with an incredibly talented and dedicated management team and the Company’s 300+ employees. William Blair & Company served as exclusive financial advisor to Dimex and Grey Mountain in the transaction.
About Dimex
Dimex is an industry-leading sustainable manufacturer of plastic products and serves diverse markets. For more than 30 years, the Company has maintained a relentless dedication to customer service and a focus on producing high-quality products. Dimex is headquartered in Marietta, Ohio.
Grey Mountain Partners is a Boulder, Colorado-based private equity firm that focuses on partnering with management to create lasting value through operational improvements and strategic growth initiatives. Since 2003 Grey Mountain has focused on the small end of the middle-market, investing in more than 45 companies across a wide range of industries. The firm is investing its $425 million Fund III and is actively pursuing new investment opportunities. For additional details on the transaction, or to discuss new investment opportunities, contact Colin McCarthy, Bill Ross, or Rob Dellinger.
For more information about Grey Mountain Partners, please visit www.greymountain.com.
