Graycliff Partners Announces Investment in Harper Love
NEW YORK, April 28, 2014-- Graycliff Partners (“Graycliff”), an independent firm focused on middle market private equity investments, today announced an investment in Harper Love Adhesive Corporation, Inc. (“Harper Love” or the “Company”). The Company is the market leader in manufacturing adhesive additives used to bond corrugated boxes. The investment marks the first platform investment of Graycliff’s new fund, Graycliff Private Equity Partners III LP.
Headquartered in Charlotte, North Carolina, Harper Love was formed in 1978 as a joint venture of Harper Corporation of America and N.B. Love Industries, of Australia. Harper Love manufactures specialty liquid products that are added to the base corn starch adhesive used by corrugating plants. The Company’s products enhance the paperboard manufacturing process and impart added strength and wet-resistance to the corrugated box.
“With a long history of growth and a proven, successful management team, Harper Love is an excellent fit for Graycliff Partners,” said Will Henderson, Principal at Graycliff Partners. “We look forward to partnering with Bill and his team to leverage our investment experience in the specialty chemicals sector.”
“We see significant opportunity for Harper Love to expand internationally, expanding our footprint both in Europe and Latin America,” added Duke Punhong, Principal at Graycliff Partners.
“Graycliff’s success investing in companies of our size and focus underscores their expertise and makes them the clear choice for our partner in carrying out our growth plans,” said Bill Kahn, Chief Executive Officer of Harper Love. “We look forward to a prosperous relationship.”
About Graycliff Partners LP
Graycliff Partners is an independent investment firm focused on middle market private equity and mezzanine investments in the United States and Latin America. Graycliff Partners LP is an SEC-registered investment advisor under the US Investment Advisors Act of 1940, as amended. Since 1991, the Graycliff Partners team, previously operating as HSBC Capital, has invested over $1 billion and completed over 80 transactions. With offices in New York and São Paulo, Graycliff Partners seeks to partner with companies led by strong, entrepreneurial management teams, providing capital for acquisitions, management buyouts, recapitalizations, growth and expansion. For more information about Graycliff Partners visit www.graycliffpartners.com.
Jen Dowd, 617-556-9982, x225
Venture Capital Database
Venture Capital Deals Spreadsheet