Grace Matthews Advises MFG Chemical and Platte River Equity on Its Transaction with Windjammer Capital

FOR IMMEDIATE RELEASE
January 21, 2026

Contact:
Kevin Yttre
President & Managing Director
Grace Matthews, Inc.
kyttre@gracematthews.com

GRACE MATTHEWS ADVISES MFG CHEMICAL AND PLATTE RIVER EQUITY ON ITS TRANSACTION WITH WINDJAMMER CAPITAL

ACQUISITION SUPPORTS MFG’S CONTINUED GROWTH THROUGH INVESTMENTS IN OPERATIONAL EXCELLENCE, PRODUCT DEVELOPMENT, AND STRATEGIC ACQUISITIONS

MILWAUKEE, WI – Windjammer Capital (“Windjammer”) announced that it has acquired MFG Chemical (“MFG”), a developer and manufacturer of specialty chemicals serving a range of end markets, including water treatment and industrial coatings.

Founded in 1980 and headquartered in Chattanooga, Tennessee, MFG provides complex and customized chemical solutions for a diverse range of applications across water treatment and industrial coatings. The company is known for its technical formulation expertise, flexible manufacturing capabilities, and long-standing customer relationships. Windjammer acquired the business from Platte River Equity. Financial terms of the transaction were not disclosed.

Windjammer’s investment will support MFG’s continued growth through investments in operational excellence, product development to expand its portfolio and end-market reach, 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.”

Grace Matthews advised MFG Chemical and Platte River Equity on this transaction. Grace Matthews and MFG Chemical are both members of SOCMA.

ABOUT MFG CHEMICAL

MFG has an established record in developing and manufacturing a range of chemicals that include polymers, surfactants, and other specialty chemicals. With a full staff of chemists, engineers, and customer service representatives, MFG provides customers with reliable high-quality products and services, and has the capability to offer turn-key approaches for custom chemical manufacturing. For more information, visit www.mfgchemical.com.

ABOUT WINDJAMMER CAPITAL

Windjammer Capital is a national private equity investment firm based in Newport Beach, CA and Waltham, MA that invests control equity in middle-market businesses and in partnership with management. Windjammer has more than $3 billion of committed capital with respect to its control equity investment strategy, and since inception has completed more than 60 platform investments and more than 200 strategic add-ons. The firm targets investments in companies that are leaders in attractive niche markets and share several of the following characteristics: significant and defensible market positions; differentiated products and services; strong management teams; scalable business models; identifiable growth opportunities; and consistent financial performance. To learn more, visit www.windjammercapital.com.

ABOUT PLATTE RIVER EQUITY

Founded in 2006 and based in Denver, CO, Platte River is a private equity firm focused on investments in established lower middle market operating companies within targeted industrial sectors where it has substantial operating and investing experience. Platte River believes in utilizing prudent capital structures in order to invest in future growth opportunities and withstand changing economic environments. The firm also provides significant ongoing support to its portfolio companies through dedicated resources across functional areas.

The firm has raised five funds with committed capital in excess of $1.7 billion. The Platte River team is the largest collective investor across its funds, deeply aligning the firm with its investors and portfolio company management teams. For additional information, please visit www.platteriverequity.com.

ABOUT GRACE MATTHEWS

Grace Matthews, Inc., a Milwaukee-based investment bank, provides merger, acquisition, and corporate finance advisory services to private and public companies across the chemical and material science value chain. Over the past 25 years, Grace Matthews has successfully completed over 150 transactions on behalf of private, middle-market companies, private equity firms, and large multi-national corporations. For more detailed information on Grace Matthews, visit www.gracematthews.com.

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