Rua Associates, West Michigan's premier mergers and acquisitions firm, is pleased to announce the successful sale of Mitco, Inc, a Grand Rapids, Michigan manufacturer of specialty chemical water and wastewater management products to The Riverside Company, an award-winning private equity firm with locations worldwide. Mitco, Inc. is an add-on to DuBois Chemicals of Sharonville, OH.
Founded in 1949, Mitco provides a strong line of wastewater, boiler water and cooling tower treatment chemical solutions for companies in Michigan, Indiana, Illinois, Ohio and others across the greater Midwest. The addition of Mitco roughly doubles the size of DuBois’ water treatment operations while adding a portfolio of complementary products. Mitco has a history of innovative product development, allowing the company to match a customer’s needs while creating trial samples within a couple of days instead of the weeks or months that is typical for the larger companies in the industry.
“We’re thrilled with the portfolio of products that Mitco brings to DuBois,” said Riverside Partner Tim Gosline. “The acquisition will really strengthen DuBois’ water treatment product offering, and we see a lot of opportunities to better serve both companies customers through this combination.”
DuBois CEO Jeff Welsh is enthusiastic about this acquisition and the added value that the combined organization can bring to its customers, noting that “Since 1949, Mitco has built an outstanding reputation for problem-solving and delivering results. Integrating their capabilities into the DuBois organization will allow us to provide more innovative solutions to more completely meet our customers’ needs.”
Justin Mitchell, President of Mitco, adds, “We at Mitco are proud of what we have built over the past 62 years, and are excited about our association with DuBois, a formidable – and growing – force in the industrial specialty chemicals industry. Our companies share a deep commitment to customer service and to providing cleaner, more efficient and profitable facilities for our customers.” For more information, please visit www.mitcoinc.com.
Founded in 1920, DuBois makes specialty chemical solutions for the manufacturing industry in North America, and is expanding into selected market sectors around the world. The company is committed to building sustainable partnerships with customers that also reduce total cost through the delivery of innovative solutions that are lean, green and clean. DuBois specializes in the areas of metal finishing/paint pretreatment, metalworking/lubricants, water/wastewater treatment, maintenance/equipment cleaning, paper chemicals, food processing cleaning/sanitizing, and transportation cleaning. For more information, please visit www.duboischemicals.com.
The Riverside Company is a global private equity firm focused on acquiring growing enterprises valued at up to $200 million (€200 million in Europe). The firm partners with strong management teams and enhances its investments through acquisitions and organic growth. Since its founding in 1988, Riverside has invested in more than 240 transactions with a total enterprise value of more than $5.4 billion/€4.4 billion. The firm’s portfolio in North America, Europe and the Asia Pacific region includes more than 70 companies with roughly 14,000 employees. Riverside completes acquisitions smoothly thanks to $3.4 billion/€2.7 billion in assets under management, more than 195 professionals in 19 offices, and longstanding relationships with partner lenders. For more information, please visit www.riversidecompany.com
Rua Associates, LLC was the exclusive mergers & acquisitions advisor to the shareholders of Mitco, Inc.