Cassel Salpeter & Co., a middle-market investment banking firm providing financial advisory services, represented Norquay Technology, Inc. (“Norquay”) in its sale to MPD Chemicals (“MPD”), a portfolio company of Addison Capital Partners. The acquisition will enable MPD to broaden its specialty chemical manufacturing capabilities.
The Cassel Salpeter team, led by President and Co-Founder Scott Salpeter and Director Philip Cassel, supported Norquay through the closing of the transaction.
Norquay is a specialty chemical manufacturer with over 30 years of expertise in providing the scale-up and production of advanced proprietary custom materials, including organometallic, inorganic and organic molecules. Norquay’s product line includes chromic, electronic, catalyst, ligand, medical adhesive and UV performance products, with a customer base that ranges from startups to large multi-national corporations.
Robert Heldt, Norquay’s founder and former CEO and now division Founder and President said, “The Cassel Salpeter team guided me through the sales process from start to finish. They helped me understand my options and ensured this complex transaction resulted in the ideal outcome for me and the Company. I couldn’t have asked for more from their team and the support they provided was invaluable.”
“It was a pleasure working with the Norquay team to find the best fit to continue their current growth trajectory. We believe Norquay will be accretive to the MPD Chemicals family of companies, and the partnership will provide great opportunities for both groups,” said President and Co-Founder Scott Salpeter of Cassel Salpeter & Co.
Debra Gruenstein, Michael Weiner, Michael Bookbinder, and Anne Hoover with Fox Rothschild LLP provided legal representation to Norquay. Donald “Rocky” Thompson, Andrew Rosenthal, and Sarah Klee with Stearns Weaver Miller Weissler Alhadeff & Sitterson, P.A. provided legal representation to MPD.
About Cassel Salpeter & Co.
Founded in 1987, Norquay’s focus is developing a product line and custom synthesis for custom proprietary products. The Company’s niche is the demanding low volume commercialization of specific molecules for high performance applications. Norquay brings scale-up and process optimization to reduce costs and cycle times while understanding the chemical synthesis.
About MPD Chemicals
About Addison Capital Partners