One Rock Capital Partners (One Rock), an operationally focused private equity firm, announced that one of its affiliates has entered into a definitive agreement to acquire Prefere Resins Group from Silverfleet Capital.

Prefere is a pan-European leader of adhesive resins and formulations used in engineered wood and insulation products, industrial applications and other specialty materials. The company is headquartered in Erkner, Germany and employs over 600 people globally at a number of manufacturing, sales and research and development facilities.

"We are excited to partner with Prefere, a leader in the resins industry," said Michael T. Koike, Partner at One Rock. "We look forward to working closely with the management team to further grow into underpenetrated markets and expand the Company's product portfolio, while maintaining the Company's commitment to delivering high-quality products and superior customer service."

"Prefere is a frontrunner in the conversion to bio-based sustainable resin technologies," added R. Scott Spielvogel, Managing Partner of One Rock. "We look forward to continuing to drive innovation, advancing on these sustainability initiatives and establishing the Company as a global market leader."

"One Rock's expertise in the chemicals space closely aligns with the Company's strategic focus, capabilities and industry leadership position," said Elmar Boeke, Chief Executive of Prefere. "As we embark on our next chapter, we are excited to collaborate and leverage the firm's strategic and operational expertise as we continue to scale our offerings."

Completion of the transaction, which is expected in the summer of 2022, is subject to applicable regulatory approvals and customary closing conditions.