Huber Engineered Materials, (HEM), Atlanta, a specialty engineered materials company, said on March 5 that it has entered into a definitive agreement with Dunes Point Capital LP (DPC), Rye, N.Y., a private investment firm, to acquire Miller Chemical & Fertilizer LLC, Hanover, Penn., which manufactures and distributes crop protection and nutritional agrichemical products.
Founded in 1937, Miller has nearly 100 employees and is headquartered in Hanover, where its manufacturing operations are located, with operations in eight other countries.
Miller reports that it sells its products into the farming and agricultural industries in more than 90 countries via its global sales force of agronomists and distributors, and targets the high-value segment of fruits, nuts and vegetables. It provides soluble fertilizers, crop protection products, adjuvants, micronutrients, fertilizer additives, plant growth regulators, abiotic stress products, soil complexing agents, organic compliant inputs, and anti-transpirants.
Miller has been a portfolio company of DPC since 2014. A year later, Miller acquired most of the assets of PlantBioTech Inc., Deming, N.M., a provider of plant growth regulators, soil conditioners, seaweed fertilizers, and related products (GM June 15, 2015).
“The acquisition of Miller furthers HEM’s mission to build a diverse portfolio of small- to medium-sized, competitively advantaged businesses in the chemical and mineral markets,” said HEM President Dan Krawczyk. “We are excited to welcome Miller’s employees into the HEM organization and work with them to continue to serve their customers globally with world-class products and services.”
The current management team and employees will continue to operate Miller’s operations and serve the company’s customers as a business unit within HEM, which said it looks forward to investing and growing the capabilities of the business for the long-term strategic needs of its customers.
Current HEM products include specialty alumina trihydrate, magnesium hydroxide, molybdate compounds, and industrial, food, and USP-grade calcium carbonate.
“This acquisition is a strategically important step in Huber’s ongoing effort to diversify its overall portfolio with new specialty businesses that can grow and deliver significant value to their customers,” said President and CEO Mike Marberry of J.M. Huber Corp., which owns HEM. “This marks a significant milestone in HEM’s history, and we look forward to introducing Miller’s employees to the Huber principles, and working with them to expand this business on a global basis.”
Founded in 1883, the family-owned J.M. Huber Corp., also headquartered in Atlanta, operates as a portfolio management company, with assets including HEM, CP Kelco, Huber Engineered Woods, and Huber Resources Corp. Businesses include specialty chemicals, minerals, hydrocolloids, engineered woods, and timber management. Huber said it is a diversified, multinational company that creates products that are used in a broad range of consumer and industrial applications, including fire retardant additives and smoke suppressants, personal care, food, beverage, pharmaceuticals, and building materials.