04/11/2019
Citizens Capital Markets, Inc. Advises HB Chemical on its Acquisition by Ravago Group
BOSTON – Citizens Capital Markets, Inc. announced today that it served as the exclusive financial advisor to HB Chemical in its acquisition by The Ravago Group. Through this sale to Ravago, the owners of HB Chemical have gained liquidity as well as a partner with significant experience and resources in the specialty chemicals industry. The acquisition will establish a North American foothold in rubber chemical distribution for Ravago.
Headquartered in Twinsburg, Ohio, HB Chemical is one of North America’s largest independent distributors of specialty chemicals focused on the rubber market. The company offers its customers a comprehensive inventory of products from leading manufacturers from around the world, and maintains an extensive network of stocking locations across the United States and Mexico to quickly and effectively serve its customers. HB Chemical will operate as a unit within Ravago Americas and will remain under the leadership of Divisional Vice President Jeff Rand.
“We appreciate the work of the Citizens team and their tenacious commitment to advising HB Chemical and its affiliates through this important process,” said Rand. “Ravago is the ideal partner for helping our business take the next step in its history.”
“It was a pleasure representing the HB Chemical team in their sale to Ravago,” said Managing Director Kevin Mayer, who leads Citizens Capital Markets’ Chemicals efforts. “Highlighting the company’s strong niche market position, sterling reputation and attention to customer service were essential to maximize value for our client in this highly synergistic transaction.”
Citizens Capital Markets, Inc. provides merger and acquisition, capital raising and other financial advisory services to middle market companies across a focused set of industry verticals. Citizens delivers thoughtful advice, keen market insight and superior execution to clients, both nationally and internationally. Citizens’ managing directors average nearly 30 years of experience and have directly executed more than 700 transactions throughout their careers.
For more information, please go to the Citizens Commercial Banking M&A Advisory Services website.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $160.5 billion in assets as of December 31, 2018. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 2,900 ATMs and approximately 1,100 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers corporate, institutional and not-for-profit clients a full range of wholesale banking products and services, including lending and deposits, capital markets, treasury services, foreign exchange and interest rate products, and asset finance. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.
