Windjammer Capital acquires MFG Chemical to drive growth through operational improvements, product expansion, and strategic acquisitions in specialty chemicals.
Windjammer Capital has confirmed the successful acquisition of MFG Chemical, a well-established developer and producer of specialty chemical solutions serving a broad range of industrial end markets. The transaction further strengthens Windjammer’s presence in the specialty chemicals sector and aligns with its strategy of partnering with technically sophisticated, niche manufacturing businesses. MFG Chemical was acquired from Platte River Equity, though the financial details of the deal were not publicly disclosed.
Founded in 1980, MFG Chemical has built more than four decades of experience delivering complex, customized chemical formulations tailored to demanding applications. Headquartered in Chattanooga, Tennessee, the company primarily serves customers in water treatment and industrial coatings, markets that require consistent performance, regulatory compliance, and technical reliability. Over the years, MFG has earned a strong reputation for its formulation expertise, agile and flexible manufacturing capabilities, and long-standing relationships with customers who rely on its products for mission-critical operations.
MFG’s differentiated capabilities stem from its ability to develop specialty chemistries that address unique customer requirements rather than offering commoditized solutions. This approach has allowed the company to establish a defensible market position and maintain strong customer loyalty. Its manufacturing platform is designed to accommodate a wide variety of batch sizes and formulations, enabling it to respond quickly to evolving market needs and customer specifications.
Under Windjammer Capital’s ownership, MFG Chemical is expected to accelerate its next phase of growth. Windjammer plans to support the business through targeted investments in operational excellence, including process optimization, manufacturing efficiency, and safety enhancements. In addition, the firm intends to invest in new product development initiatives to broaden MFG’s specialty chemical portfolio and expand its reach into adjacent end markets. Strategic acquisitions are also expected to play a role in scaling the platform and enhancing its technical and geographic footprint.
Commenting on the transaction, Rob Quandt, Managing Director at Windjammer Capital, highlighted the strong strategic fit between the two organizations. He noted that MFG Chemical closely aligns with Windjammer’s investment philosophy of partnering with engineering- and material science-driven companies that provide essential products and services. According to Quandt, MFG’s advanced formulation capabilities and deep customer relationships offer a solid base for sustained long-term growth.
From MFG’s leadership perspective, the partnership represents an opportunity to build on the company’s long history while accelerating its future ambitions. Paul Turgeon, Chief Executive Officer of MFG Chemical, expressed enthusiasm about collaborating with Windjammer. He emphasized Windjammer’s track record in scaling industrial manufacturing businesses and its collaborative, management-focused approach. Turgeon stated that the partnership will support continued investment in employees, expanded technical capabilities, and enhanced customer service.
Greg Bondick, Managing Principal at Windjammer Capital, added that MFG’s ability to develop and manufacture complex chemistries for critical applications makes it a compelling platform investment within the specialty chemicals industry. He reaffirmed Windjammer’s commitment to working closely with the management team to support the company’s long-term strategic objectives.
The transaction was supported by several advisory firms. Piper Sandler & Co served as exclusive financial advisor to Windjammer Capital, while Kirkland & Ellis provided legal counsel. On the seller’s side, Grace Matthews acted as financial advisor, and Bartlit Beck provided legal representation.
