Speyside Equity Advisers has successfully acquired Reed Minerals LLC from Enviri Corporation, marking a significant milestone for both companies. This transaction will enable Speyside to further invest in Reed Minerals’ growth trajectory and propel the company’s expansion in the abrasive blasting media and roofing granules market.
Reed Minerals, a leading provider in North America, has a rich history dating back to the 1930s. Committed to sustainability, the company has long practiced recycling byproducts into valuable performance products. The acquisition presents a new chapter for Reed Minerals, allowing them to pursue key product launches and strategic acquisitions, ultimately driving value creation and solidifying their position as a leader in the industry.
Eric Wiklendt, Managing Director at Speyside and Reed Minerals’ Board Chair, highlighted the significance of this transaction, stating, “The Reed Minerals deal marks a new chapter at Speyside, demonstrating our ongoing commitment to continuous improvement and our focus on our third institutional fund.”
Greg Andersen, President and CEO of Reed Minerals, echoed this sentiment, emphasizing the partnership aspect of the acquisition. He noted, “We see Speyside as partners with whom we can collaborate to foster an entrepreneurial culture and invest in Reed Minerals. Speyside brings the necessary capitalization structure and value creation system to achieve our vision and drive results for our valued employees, suppliers, and customers.”
About Speyside Equity Advisers: Based in Detroit, Speyside is a private equity firm specializing in middle-market buyout transactions within the manufacturing and value-added distribution sectors. They focus on companies with complex balance sheets, legal, environmental, labor, or transactional challenges, employing creative transaction structures to navigate these situations. Speyside’s operational approach to value creation has led to 35 successful investments to date.
About Reed Minerals: Reed Minerals is dedicated to transforming secondary materials and industrial byproducts into valuable products, reducing landfill waste in the process. Their proprietary product portfolio, supported by in-house research and development and a consultative sales team, caters to the surface preparation (e.g., blasting) and roofing shingle manufacturing industries.
About Enviri: Enviri is a global leader in environmental services, committed to building a greener future. They provide a range of innovative solutions to address complex environmental challenges, empowering their diverse customer base with critical recycle and reuse solutions for their waste streams. Enviri operates in over 150 locations across 30 countries, driving sustainability initiatives on a global scale.
Fifth Third Securities acted as Enviri’s financial advisor, while Honigman LLP and Squire Patton Boggs served as legal advisors for Speyside and Enviri, respectively.
This acquisition signifies a strategic shift for both Speyside and Reed Minerals, paving the way for continued growth and innovation in the abrasive blasting media and roofing granules market.
