|[May 04, 2012]
Osmose Holdings, Inc. Acquired by Oaktree Capital Management, L.P.
BUFFALO, N.Y. --(Business Wire)--
Osmose Holdings, Inc., (Osmose) a diversified global manufacturer of
wood preservation chemistry and technology and a specialty service
provider to the utilities and railroad industries, announced that it has
closed an agreement to be acquired by certain investment funds managed
by Oaktree Capital Management, L.P. of Los Angeles, California.
James Spengler, President and CEO of Osmose, will continue to serve in
the same capacity along with Osmose's existing management team. "Osmose
has built very strong brand recognition and a solid reputation for
innovative products and services, excellent customer service, best in
class safety performance and good growth prospects across all its
business segments which attracted Oaktree to seek a partnership with
management to pursue strategic growth plans. Oaktree can provide
substantial additional resources and is committed to investing in Osmose
to help us expand our product and service offerings and to better meet
and exceed our customers' expectations" said Spengler.
Ian Schapiro, Managing Director of Oaktree's GFI Energy Group, said "We
are delighted to have the opportunity to invest in Osmose and to provide
the Company with additional resources and capabilities to expand its
product and srvice offerings, invest in additional research and
development, and deliver superior customer service. We look forward to
working with Osmose's world-class management team to continue to build
on the Company's success."
Osmose was advised in this transaction by Western Reserve Partners LLC.
Financial terms were not announced.
Osmose Holdings, Inc. is a Buffalo, NY based 78 year old private company
that started with patented wood preservation chemistry and evolved into
a dominant provider of scores of innovative technologies and services
that benefit the lumber treatment, utilities and railroad industries in
the U.S. and around the world. For additional information, please visit www.osmose.com.
Oaktree is a leading global investment management firm focused on
alternative markets, with $77.9 billion in assets under management as of
March 31, 2012. The Oaktree funds investing in Osmose include Oaktree
Power Opportunities Fund III, L.P. and Oaktree Principal Fund V, L.P.
The Power Opportunities Fund focuses exclusively on providing capital to
leading businesses in the energy and utilities industry, while the
Principal Fund brings resources and experience investing in a variety of
industrial services and product markets including rail services,
building products, and specialty chemicals. Headquartered in Los
Angeles, Oaktree has over 650 employees and offices in 13 cities
worldwide. For additional information, please visit Oaktree's website at www.oaktreecapital.com.
Headquartered in Cleveland, Ohio, Western Reserve Partners LLC provides
M&A, capital raising and other financial advisory services to middle
market companies across a variety of industry verticals. For additional
information, please visit www.wesrespartners.com.
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