Chase Corporation Announces Completion of Acquisition by KKR and Welcomes Lance Reisman as Chairman of the Board of Directors
15 November 2023 - 3:23PM
Business Wire
Chase Corporation (“Chase” or the “Company”), a leading global
manufacturer of protective materials for high-reliability
applications across diverse market sectors, today announced the
successful completion of its acquisition by affiliates of KKR, a
leading global investment firm, for $127.50 per share. As a result
of the completion of the transaction, Chase common stock has ceased
trading and will no longer be listed on the NYSE American.
“Today represents an important milestone for Chase in our
journey to better serve our customers through strategic growth and
innovation,” said Adam Chase, President and Chief Executive Officer
of Chase. “From the beginning, KKR was a strong cultural fit for
us, and their commitment to employee engagement coupled with an
exceptional track record in the materials science space makes them
ideal for this new chapter in our history.”
Adam joined Chase in 1998, and has successfully managed Chase as
Chief Executive Officer since 2015. Prior to this role, Adam was
the Chief Operating Officer.
In conjunction with the transaction close, Lance Reisman will
assume the role of Chairman of the Board of Directors of Chase.
“I am thrilled to be joining the Board of Chase as Chair and
look forward to working with Adam and his talented team to achieve
a new phase of growth and innovation,” said Mr. Reisman. “Chase has
built an impressive portfolio of leading technologies, and I look
forward to supporting the Company in building upon this foundation
to drive future growth, both organically and through
acquisitions.”
Lance is an Executive Advisor to KKR and currently serves as a
member of the Board of Directors at Flow Control Group and as
Chairman of the Board at GeoStabilization International and
Industrial Physics. Lance previously worked at Danaher, most
recently as Group Executive and Vice President responsible for
Danaher’s Water Quality Platform. In this role, Lance led holistic
operational and commercial transformations and executed a number of
strategic acquisitions.
KKR will also support Chase in implementing a broad-based
employee ownership program to allow all of its employees to have
the opportunity to participate in the benefits of ownership of the
Company. This strategy is based on the belief that employee
engagement and a strong ownership culture are key drivers in
building stronger companies. Since 2011, KKR portfolio companies
have awarded billions of dollars of total equity value to over
60,000 non-senior management employees across more than 35
portfolio companies.
About Chase Corporation
Chase Corporation, a global specialty chemicals company that was
founded in 1946, is a leading manufacturer of protective materials
for high-reliability applications throughout the world. More
information can be found on our website https://chasecorp.com/.
About KKR
KKR is a leading global investment firm that offers alternative
asset management as well as capital markets and insurance
solutions. KKR aims to generate attractive investment returns by
following a patient and disciplined investment approach, employing
world-class people, and supporting growth in its portfolio
companies and communities. KKR sponsors investment funds that
invest in private equity, credit and real assets and has strategic
partners that manage hedge funds. KKR’s insurance subsidiaries
offer retirement, life and reinsurance products under the
management of Global Atlantic Financial Group. References to KKR’s
investments may include the activities of its sponsored funds and
insurance subsidiaries. For additional information about KKR &
Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com.
For additional information about Global Atlantic Financial Group,
please visit Global Atlantic Financial Group’s website at
www.globalatlantic.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20231114831041/en/
Media Contacts:
For Chase Corporation
Investor & Media Contact: Jackie Marcus or Ashley Gruenberg
Alpha IR Group Phone: (617) 466-9257 E-mail: CCF@alpha-ir.com
Shareholder & Investor Relations Department: Phone: (781)
332-0700 E-mail: investorrelations@chasecorp.com
For KKR
Liidia Liuksila or Miles Radcliffe-Trenner (212) 750-8300
media@kkr.com
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