Windjammer Capital has acquired Chattanooga-based MFG Chemical from Platte River Equity for an undisclosed sum.

Established in 1980, MFG specializes in developing and manufacturing custom specialty chemicals for the industrial coating and water treatment sectors.

Windjammer intends to leverage the company's technical expertise to drive growth through operational improvements, expanded product development, and strategic acquisitions.

“MFG Chemical 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 are 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 Chemical. “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.”

“MFG’s ability to develop and manufacture complex chemistries for critical applications makes it an attractive platform within specialty chemicals,” said Greg Bondick, Managing Principal at Windjammer Capital. “We look forward to partnering with the management team to support the company’s next phase of growth.”

Piper Sandler & Co acted as exclusive financial advisor to Windjammer, and Kirkland & Ellis provided legal counsel. Grace Matthews acted as financial advisor and Bartlit Beck acted as legal counsel to the sellers.