Speyside Equity Advisers has announced the completion of the carveout of Reed Minerals LLC from Enviri Corporation. This strategic transaction marks a significant milestone for both companies, enabling Speyside to invest in Reed Minerals’ future growth and solidify its position as a leading provider of abrasive blasting media and roofing granules across North America.
Reed Minerals, a company with a rich history dating back to the 1930s, is known for its commitment to sustainability. The company has been recycling byproducts into valuable performance products for decades, making it a pioneer in the green business movement. This acquisition allows Reed Minerals to leverage Speyside’s expertise and resources to execute key product launches and acquisitions, ultimately accelerating its growth trajectory.
Eric Wiklendt, Managing Director at Speyside and Reed Minerals’ Board Chair, highlighted the significance of the deal: “The Reed Minerals deal begins a new chapter at Speyside, evidencing continuous improvement and focus applied to our third institutional fund. With this acquisition, Reed Minerals can execute key product launches and acquisitions, thereby writing its next chapter of value creation.”
Greg Andersen, President and CEO of Reed Minerals, echoed this sentiment, stating: “We see Speyside as partners with whom we can work to usher in an entrepreneurial culture and investment in Reed Minerals. Speyside brings the new capitalization structure and value creation system needed to achieve our vision and drive results for our valued employees, suppliers, and customers.”
Speyside, a Detroit-based private equity firm, specializes in middle-market buyout transactions in the manufacturing and value-added distribution sectors. The firm focuses on companies with complex operational challenges, often involving balance sheet issues, legal complexities, environmental concerns, labor matters, or transactional complexities. Speyside’s expertise lies in crafting creative transaction structures, including carveouts from large multinational companies, industry consolidations, family-owned business acquisitions, bankruptcies, workouts, and other special situations. The firm adopts an operational approach to value creation, having successfully completed 35 investments.
Enviri, a global leader in environmental services and solutions, is committed to transforming the world towards a greener future. The company provides critical recycle and reuse solutions for its diverse customer base, helping them address their environmental challenges and achieve sustainability goals. Enviri operates in over 150 locations across 30 countries.
This acquisition demonstrates Speyside’s strategic vision and commitment to investing in companies with strong sustainability credentials and a clear path to growth. By supporting Reed Minerals, Speyside is not only driving the company’s expansion but also contributing to a more environmentally responsible future.
