Deal Synopsis:
The Lenox Group advised Crown Products and Services, LLC (“Crown”) on its recapitalization by Merit Capital Partners. Crown, headquartered in Indianapolis, Indiana, specializes in the formulation and application of proprietary specialty chemicals involved in the handling of various raw materials for the coal, steel and utility industries. These chemicals are used by Crown customers to facilitate raw material handling during seasonal challenges such as freezing conditions in the winter and dust mitigation and fire suppression in the spring, summer and fall. Crown managers rolled over significant equity positions as co-investors with Merit.
Based in Chicago, Illinois, Merit Capital Partners manages over $2.7 billion through seven institutionally sponsored limited partnerships investing mezzanine and equity capital in middle-market companies principally in manufacturing, distribution and services industries.
Merit focuses exclusively on high-quality, established businesses with carefully conceived operating strategies with a goal of working with committed owners and strong managers to help increase a company’s enterprise value.