CHARLOTTE, N.C., Nov. 7, 2023 /PRNewswire/ — Makai Capital Partners, a Davidson, NC based private equity firm, along with equity investors Capital For Business, Inc. and Konza Valley Capital, has acquired New Life Chemical & Equipment, Inc. (“New Life”) of Greenville, SC. New Life is a leading beneficial reuse chemical manufacturing and distribution company serving a diverse array of end markets. This acquisition is the first addition to Makai Capital’s specialty chemical manufacturing group, Paladin Holdings, LLC.
“New Life is a company with a strong culture and sense of purpose that plays a critical role in the chemical supply chain,” said Andrew Fulford, Managing Partner of Makai Capital Partners. “We see New Life as an outstanding fit to our Paladin Holdings portfolio of sustainable chemical manufacturers. We look forward to supporting management as they expand their product offerings and geographic reach.”
For over 25 years, New Life has been a trusted partner to chemical manufacturing companies who need an outlet for surplus, expired, or orphaned materials in a safe and environmentally friendly manner. New Life has extensive expertise and capabilities to reformulate or recertify as needed and find uses and customers for these surplus chemicals in the secondary market, finding beneficial reuse and giving it “New Life.”
Ron Rountree, former owner of New Life, commented, “In looking for a new owner that could build on New Life’s foundation and set the direction for future growth, it was very important for us to find a partner who valued our culture and mission as much as we do. I believe Andrew and Makai Capital understand what makes our company special and will be good stewards of New Life and will deliver greater success this next phase for the company.”
Tim Northcutt, New Life’s President added, “I’m excited to be a part of this next chapter for New Life. We have a great company, and I believe working with Makai Capital will enable us to expand what we do, who we serve and ultimately have an even greater positive impact on the communities where we work and live.”
Parkside Financial Bank & Trust of St. Louis, MO served as the senior lender on this transaction.
ABOUT MAKAI CAPITAL PARTNERS
Makai Capital Partners is a private equity firm that acquires and supports middle-market businesses in industrial products and services. Makai focuses on founder-owned businesses looking for their first transition to outside investment. Makai’s strategy is to grow a portfolio of industrial businesses that make a positive environmental impact either through the products they manufacture or the services they provide. Makai provides its portfolio companies with professional management expertise and financial resources to accelerate their growth. For more information, visit http://www.makaicapitalpartners.com
ABOUT NEW LIFE CHEMICAL
New Life Chemical, founded in 1997 and headquartered in Greenville, SC, is a leading distributor of surplus chemicals and wholesale manufacturer of commercial cleaning products. For more information, visit http://www.newlife-chem.com
SOURCE Makai Capital Partners
