Overview
- Company founded in 1961 and profitable every year
- Proprietary products drove strong customer relationships and recurring revenues
- Founder limited growth to a lifestyle business resulting in low penetration of a large potential market (100+ U.S. pulp mills and untapped mining market)
- Attractive EBITDA margins
- Management buyout completed by Former Dow Chemical executives with The Courtney Group and Cave Creek Capital in August 2007
Results
- Substantial investment made to expand Company’s facilities, marketing, and administrative systems
- Hired additional Senior Executives; tripled existing team
- Expanded R&D programs with several existing products and several under development
- Expanded mining effort to become leader in US phosphate mining sector
- Launched international sales effort
- Sales have grown 300% since closing
- Customer base has increased 400%
- Cash Flow (EBITDA) has increased over 100% in four years
- Recapitalized Senior and Subordinated Debt with SunTrust in February 2012
- Management team expands in conjunction with debt recapitalization in 2014
- Lower leveraged company continues to to invest in paper/pulp and mining markets
- Expansion into international markets with joint ventures with major chemical companies attracted by Bastech’s technology