Luyang produces energy-saving supplies within the fields of ceramic fibers, soluble fibers, alumina fibers, and different excessive temperature insulating supplies, and has been partnered with Alkegen since 2015.
“From the very begin of our partnership with Luyang seven years in the past, we’ve been repeatedly impressed by the Firm’s administration workforce and their capability to ship on monetary and industrial efficiency targets,” stated John Dandolph, President and Chief Govt Officer of Alkegen. “With this elevated funding, we plan to leverage Luyang as our platform in Asia to increase and cross-sell lots of Allergen’s different merchandise and applied sciences which might be core to the strategic path of our world economic system. These embody methods which might be defining our collective future akin to filtration media, battery applied sciences, electrical automobile merchandise, and specialty insulation supplies. We’re excited to proceed investing in Luyang and deploying the Firm’s sources to assist our prospects stay greener, breathe simpler, and go additional than ever earlier than.”
“This transaction marks one other milestone in Alkegen’s journey towards turning into the worldwide chief in superior supplies centered on reducing vitality utilization, decreasing emissions and pioneering progressive options for the way forward for enticing excessive development industries akin to lithium-ion batteries and superior filtration,” stated José E. Feliciano, Co-Founder and Managing Associate, and Colin Leonard, Associate and Managing Director, at Clearlake.
“We could not be extra excited to sponsor John and the Alkegen workforce on this advanced, transformative transaction that we imagine will create significant worth for purchasers and stakeholders globally, and is a superb instance of Clearlake’s O.P.S.® worth creation playbook in motion,” added Nate Mejías, Principal at Clearlake.
Alkegen creates excessive efficiency specialty supplies utilized in superior purposes together with electrical automobiles, vitality storage, filtration, fireplace safety and excessive temperature insulation, amongst many others. Alkegen’s merchandise are designed with the last word purpose of saving vitality, decreasing air pollution, and bettering security for individuals, buildings and tools by delivering on our mission of serving to the world breathe simpler, stay greener and go additional than ever earlier than. Alkegen has 75 manufacturing amenities working in 12 nations with 9,000+ staff globally. Extra data is obtainable at www.alkegen.com.
Clearlake Capital Group, L.P. is an funding agency based in 2006 working built-in companies throughout non-public fairness, credit score, and different associated methods. With a sector-focused method, the agency seeks to associate with administration groups by offering affected person, long-term capital to companies that may profit from Clearlake’s operational enchancment method, O.P.S.® The agency’s core goal sectors are expertise, industrials, and shopper. Clearlake at present has over $72 billion of property below administration, and its senior funding principals have led or co-led over 400 investments. The agency is headquartered in Santa Monica, CA with associates in Dallas, TX, London, UK and Dublin, Eire. Extra data is obtainable at www.clearlake.com and on Twitter @Clearlake.
Kristen Weiss (Alkegen)
Jennifer Hurson (Clearlake)
SOURCE Alkegen; Clearlake Capital Group