Gryphon Investors (“Gryphon”) has acquired Vivify Specialty Ingredients (“Vivify” or the “Company”) in partnership with the Company’s current family owner Aakash Shah, who will remain on the board of directors, and Vivify management.
Specialty Chemicals for Colorants
Vivify is one of the leading providers of specialty chemicals for colorant and related specialty applications in the personal care & cosmetics, food & beverage, packaging, plastics, coatings, and agriculture industries. Specializing in organic pigments, dyes, liquid colorants, slip additives, specialty resins, and specialty food ingredients, the Company distributes products that are manufactured both domestically and internationally and sold in more than 50 countries.
Through a technical, high-touch salesforce, innovative lab and regulatory support capabilities, and the ability to support short turnaround times, the Company supports customer-specific solutions focused on product performance and customized applications. CEO Devlin Riley and other members of the management team will continue to lead the Company.
Acquisition to Address Customer Needs
Keith Stimson, deal partner and head of the heritage fund team at Gryphon, said, “
Gryphon’s Heritage Fund leverages our firm’s sector initiative strategy and deep pool of relevant operating resources, and focuses on partnering with market leaders with sustainable differentiation. We believe Vivify is an exceptional player in the attractive colorant and ingredient markets, and we see a variety of opportunities for additional investments to accelerate growth, including add-on acquisitions.”
Craig Nikrant, Gryphon operating partner on the heritage fund team, said, “
Vivify has 40 years of experience addressing customer needs through innovative formulations, robust laboratory and regulatory support capabilities, and high-quality products. Its outstanding research has developed standardized methods to assure consistency and meet customers’ quality, safety, and environmental requirements. We look forward to working with Devlin and his team as we invest in this business and enable its continued growth.”
This acquisition represents the third platform investment closed by Gryphon’s Heritage Fund, a small-cap fund offering launched by Gryphon in 2020. Financial terms of the transaction were not disclosed.
Range of Pigments from Vivify
Source: Gryphon Investors