Black Bay Energy Capital (“Black Bay”), a New Orleans-based private equity firm that is focused on the energy and specialty chemical sectors, has announced the acquisition of Merichem’s technology business unit, comprised of Merichem Process Technologies and Merichem Catalyst Products, which will collectively be renamed “Merichem Technologies.” Grace Matthews, Inc. (“Grace Matthews”) served as financial advisor to Merichem Company on the transaction.
As a standalone platform, Merichem Technologies will be a global provider of sulfur treating technologies and solutions and a suite of proprietary chemical catalysts.
“Merichem Company has been a fantastic steward of this business for decades, and the entire Merichem Technologies team is excited about our new partnership with Black Bay and the ability to pursue new avenues for growth,” said Cyndie Fredrick, CEO of Merichem Technologies. “Sulfur treatment is a critical path item across many industrial applications around the world. Hydrogen sulfide (“H2S”), mercaptans, carbon dioxide (“CO2”), and other related impurities must be dealt with to ensure environmental compliance, sustainable operations, and a saleable end product. We are thrilled to partner with the Merichem Technologies team to accelerate growth and expand the portfolio of solutions to help clients with their operational and environmental goals,” said Tom Ambrose, Partner of Black Bay. Sam Scofield, Vice President of Black Bay, added, “We believe that Merichem Technologies is the right platform to create a comprehensive, industry-agnostic sulfur treatment solutions provider.” “This divesture is a major milestone for Merichem Company as we continue to execute our strategic vision, further cementing our leadership position in caustic services. I am also excited to work with the Merichem Technologies team and investors as they take the technology businesses to the next level,” said Kendra Lee, Chairman and CEO of Merichem Company.
