Junction Capital Partners, a Houston-based private equity firm investing in industrial and energy infrastructures, has reportedly completed the acquisition of Mayville-based Wilkinson Chemical LLC and its affiliated entities.
According to reports, Wilkinson Chemical, following its acquisition, will be operated under the brand name Wilkinson Solutions. Since its inception in 1948, Wilkinson has been delivering and selling calcium chloride solution to customers.
The company presently produces 150,000 tons of calcium chloride solution per year. Wilkinson anticipates commencing shipments of ASTM specification liquid calcium chloride in Q3 of the year 2020.
Wilkinson Minerals, an affiliate, is also planning to expand the business to produce briners, ASTM liquid calcium chloride, and food-grade products, including flake, liquid and pellet forms. The new facility is being developed to produce up to 500,000 tons every year. The company is also planning to make the first deliveries of flake, liquid, and solid calcium chloride in the year 2022.
Sources cite that the new Wilkinson platform will be headed by Rick Billings, who apparently has over four decades of experience in the calcium chloride industry.
Speaking on which, Mr. Billings said that Wilkinson procurement is the first step in developing a business to cater to calcium chloride consumers with new supply. He is excited to partner with JCP, with their in-depth knowledge of the chemicals market and expertise in project development expertise.
Rob Johnson, a partner at JCP, said that the calcium chloride market has alluring fundamentals, which require new supply to cater burgeoning customer needs in several applications.
Mr. Johnson added that the company has analyzed the market for a prolonged period and believes that the procurement of a long-standing player like Wilkinson delivers a strategic base on which JCP can build an exceptional production facility.
Reports cite that JCP has bought Wilkinson Chemical LLC for an unrevealed amount from its owners Irene and Donald Wilkinson.