Schwab Industries Formed to
Acquire Specialty Chemical Products Companies
Industry Veteran Anthony J. Schwab Teams With Prospect Partners
to Pursue Industry's Small Niche Leaders
CHICAGO, Ill.—June
2, 2005: Anthony J. Schwab, the former Chief Executive Officer of
Claire-Sprayway Inc., one of the nation's leading manufacturers
of aerosol packaged chemical products, has formed Schwab Industries,
Inc., a new firm focused exclusively on the acquisition of lower-middle-market
niche manufacturers of specialty chemical products for consumer
and industrial uses. Schwab Industries, based in Oak Brook, Illinois,
has teamed with Prospect Partners, LLC, a private equity investment
firm headquartered in Chicago, to help it identify and qualify acquisition
opportunities.
Prospect Partners and
Schwab Industries will focus on acquisition opportunities where
the target companies could benefit from an operationally-oriented
buyer with a strong capital base. Ideal acquisition opportunities
have a well recognized brand name and a defensible position as a
top-tier supplier in their primary market; manufacture and market
a specialty chemical product or related product for industrial,
institutional or consumer use; and have revenues between $10 and
$30 million.
"Tony offers great
leadership and has a history of consistent business success,"
says William V. Glastris, Jr., a Principal at Prospect Partners.
"His background, which includes more than 25 years in sales,
marketing and manufacturing as well as experience building significant
equity value, has equipped him well to help companies in our area
of focus -- small niche leaders -- maximize their competitive advantages,
reduce inefficiencies and increase profits."
Prior to forming Schwab
Industries, Mr. Schwab was President, Chief Executive Officer and
minority owner of Claire-Sprayway, a $50 million manufacturer and
marketer of aerosol packaged chemical products that include cleaning
agents, disinfectants and adhesives for various consumer, institutional
and industrial markets. Schwab joined Claire-Sprayway as a sales
manager in 1981 and rose through the company, ultimately running
it. Under his leadership, the company's EBITDA increased from $4.4MM
to $11.8MM.
Mr. Schwab left Claire-Sprayway
in the summer of 2004 to pursue new opportunities, including the
formation of Schwab Industries. "I am excited about the opportunity
to team with Prospect Partners to identify specialty chemical companies
with exceptional potential -- and then to put my experience to work
in helping to guide and grow them," Mr. Schwab says.
In evaluating potential
investment opportunities, Schwab Industries and Prospect Partners
are most interested in companies in the following SIC codes: 2842
- specialty cleaning, polishing and sanitation preparations; 2851
- paint and allied products, varnishes; 2879 - pesticides and agricultural
chemicals, not elsewhere classified; 2891 - adhesives and sealants;
and 2899 - chemicals and chemical preparations, not elsewhere classified.
For more information on
Schwab Industries, contact Mr. Schwab at: ajs-schwabindustries@comcast.net
About Prospect Partners,
LLC
Prospect Partners, LLC,
of Chicago, Illinois is a leading investor in unique lower-middle-market
companies, managing two private equity funds totaling $270 million.
Since its founding in 1998, Prospect Partners has focused on management-led
leveraged acquisitions and has invested in more than 45 small niche
leaders with revenues typically between $10 and $30 million; the
company's investments span many niche consumer, specialty distribution
and service markets throughout the United States. For more information
on Prospect Partners, please visit www.prospect-partners.com
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