Cassel Salpeter & Co. Represents Norquay Technology in its Sale to MPD Chemicals

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.

Cassel Salpeter & Co., LLC is an independent investment banking firm that provides advice to middle market and emerging growth companies in the U.S. and worldwide. Together, the firm’s professionals have experience providing private and public companies with a broad spectrum of investment banking and financial advisory services, including: mergers and acquisitions; equity and debt capital raises; fairness and solvency opinions; valuations; and restructurings, such as 363 sales and plans of reorganization. Co-founded by James Cassel and Scott Salpeter, the firm provides objective, unbiased, results-focused services that clients need to achieve their goals. Personally involved at every stage of all engagements, the firm’s senior professionals have forged relationships and completed hundreds of transactions and assignments nationwide. The firm’s headquarters are in Miami. Member FINRA and SIPC. More information is available at

About Norquay

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

MPD Chemicals is a US-based manufacturer of specialty chemicals with expertise in multiple technical areas including complex organic synthesis, unique monomers, polymer development, organosilicon chemistries and stable isotope labeling. The individual business units that comprise MPD are Monomer-Polymer and Dajac Labs, Silar and IsoSciences. The recent combination of these entities into a single organization allows for further development of novel materials and solutions for client application needs by leveraging the company’s cross-disciplinary expertise and operational strength when internally scaling from milligram to metric ton batches. For more information please go to

About Addison Capital Partners

Addison Capital Partners is a private equity investment firm that seeks out partnerships with owners and operators of lower middle market growth companies to provide liquidity, growth capital and management resources to grow and build exceptional enterprises.