Platte River Equity (“Platte River”) announced that it has sold its portfolio company MFG Chemical (“MFG” or the “Company”) to Windjammer Capital (“Windjammer”). MFG is a developer and manufacturer of specialty chemicals serving a range of end markets, including water treatment and industrial coatings. The acquisition closed on December 31, 2025. Financial terms of the transaction were not disclosed.
Founded in 1980 and headquartered in Chattanooga, Tennessee, MFG provides complex and customized chemical solutions for a diverse range of applications across water treatment and industrial coatings. The Company is known for its technical formulation expertise, flexible manufacturing capabilities, and long-standing customer relationships.
Kris Whalen, Managing Director at Platte River Equity, commented, “We are proud of what we have accomplished alongside the MFG team, and we are thankful for the opportunity to have worked with them. We wish both Windjammer and MFG great success in their next chapter together.”
“MFG is highly aligned with Windjammer’s strategy of partnering with engineering and material science driven niche market leaders that provide mission-critical products and services,” said Rob Quandt, Managing Director at Windjammer Capital. “The Company’s differentiated formulation capabilities and strong customer relationships provide a solid foundation for long-term growth.”
“We have valued our partnership with Platte River and are now excited to partner with Windjammer as we build on MFG’s more than four decades of history,” said Paul Turgeon, Chief Executive Officer of MFG. “Windjammer’s experience scaling industrial manufacturing businesses and their collaborative approach make them an ideal partner as we continue to invest in our people, expand our capabilities, and serve our customers.”
Grace Matthews and KeyBanc Capital Markets acted as financial advisors to Platte River, and Bartlit Beck provided legal counsel. Piper Sandler & Co acted as exclusive financial advisor to Windjammer, and Kirkland & Ellis provided legal counsel.
