Vivify Specialty Ingredients (“Vivify”), a leading provider of specialty colorants, additives, and ingredients for the food & beverage, personal care & cosmetics, and industrial end markets, announced today that it has acquired Reitech Corporation (“Reitech” or the “Company”), a manufacturer of pigment dispersions. Financial terms of the transaction were not disclosed.
Reitech’s owners Stephen Holtzman and Prakash Pradhan will remain with the Company and join the Vivify management team. Vivify was acquired in December 2021 by Gryphon Heritage Fund, the small-cap strategy of middle-market private equity firm Gryphon Investors, and is actively seeking to partner with additional businesses in order to expand product offerings and services for its customers.
Based in Reading, PA, Reitech has manufactured pigment dispersions for more than 40 years. The Company’s products, which include both standard and custom color dispersions, are used in a diverse array of applications where consistent and highly technical colorants are required, such as aerospace, consumer goods, and industrial coatings.
“The combination of Reitech with Vivify’s pigments dispersions division, Heritage Color, creates a pigment dispersion business with considerable scale and positions the combined company to take advantage of new strategic opportunities, while remaining focused on high quality and service,” said Vivify CEO Devlin Riley. “Reitech’s portfolio will diversify Vivify’s product line and allow us to better serve existing customers, as well as reach new end-markets. We’re excited to welcome the Reitech team.”
“Reitech is an ideal acquisition for Vivify, with a complementary product line that offers new avenues for product innovations,” said Craig Nikrant, Operating Partner on the Gryphon Heritage Fund team. “We remain committed to partnering with the Vivify management team to identify and support additional strategic acquisitions that will drive growth.”
“We are pleased to partner with Vivify,” said Stephen Holtzman and Prakash Pradhan, owners of Reitech. “Our interactions with the Vivify team made it an easy decision to move forward together, and we look forward to leveraging their broader resources to deliver even more value to our customers.”
Kirkland & Ellis served as legal counsel to Vivify. Reger Rizzo & Darnall LLP served as legal counsel to Reitech.
Vivify is a leading provider of specialty colorants, additives, and ingredients for the food & beverage, personal care & cosmetics, and industrial end markets. With expertise in specialty products, such as organic pigments, dyes, liquid colorants, slip additives, specialty resins, and food ingredients, Vivify delivers customer-specific solutions focused on product performance, customized applications, product development, and other value-added services. For more information, visit www.vivifycompany.com
About Gryphon Investors
Gryphon Investors (www.gryphoninvestors.com) is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. As of December 31, 2021, the firm has over $9 billion of assets under management. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.
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