New York private equity firm Lindsay Goldberg announced Monday that it has reached an agreement to acquire EMCO Chemical Distributors, a Southeast Wisconsin provider of industrial chemicals.
EMCO, founded by CEO Edward Polen in 1971, is one of North America’s largest independent chemical distributors, officials said. The company operates eight distribution and packaging facilities, its own delivery fleet, an environmental services hub and an application lab.
Terms of the deal were not disclosed.
Lindsay Goldberg Partners John Holland and Eric Fry said that the proposal reflected “the culmination of a multi-year relationship” with Polen.
“EMCO stands out for its stellar reputation, enduring supplier relationships, loyal employee base, and unmatched infrastructure in the region,” Fry and Holland said in a joint statement. “We believe these strengths underpin EMCO’s position as a market leader, and we look forward to working with EMCO’s management team to support its future growth.”
Polen plans to retire when the transaction is completed; Lindsay Goldberg Affiliate Partner Frank Bergonzi will begin serving as EMCO’s executive chairman at that time.
“Building EMCO over the last 54 years has been the greatest privilege.” Polen said. “From the start, I set out to build a company where people matter – where we are true partners to our suppliers and customers and where our employees are empowered to make a difference. I’m proud of the culture we’ve built at EMCO.”
