Cimbria Capital Leads Equity Investment in VRC Technologies and Taps Beirne as CEO
Houston, Texas, May 4, 2017 (Newswire.com) - VRC Technologies, a Texas-based chemical formulations, manufacturing and distribution company, today announced receipt of a growth equity investment led by Cimbria Capital. With deep formulary expertise in the agrochemicals and oilfield chemicals sectors, VRC has propelled innovation for some of America’s leading chemical companies seeking safer and more reliable surfactant and adjuvant packages. Driven by escalating demand in domestic agriculture and oil and gas production, the strength of VRC’s customer relationships and technical reputation in specialty chemistries positions them well for expanded growth throughout the United States.
Martin D. Beirne, III, former CEO of a Carlyle/Riverstone and Goldman Sachs portfolio company, has alongside Cimbria led the collaboration efforts with VRC over the past several months with the purpose of securing this investment. Beirne was, as part of this transaction, tapped to lead VRC as its new CEO with the purpose of accelerating the Company’s platform for growth as a leading, mid-market chemicals developer and manufacturer.
"VRC's customizable formulations, unique site assets, and team will achieve even more with this investment, and customers will receive an immediate benefit."
Martin D. Beirne, III, CEO, VRC Technologies
“VRC is exceptionally positioned under Beirne’s management to continue optimizing an agile chemical supply chain that improves product and service levels to agriculture and oilfield customers at advantaged costs,” stated Brian V. Iversen, Managing Director of Cimbria Capital. “Cimbria Capital could not be prouder to support the expanded commercialization of VRC’s innovative chemistries throughout these high-value industries.”
“VRC’s customizable formulations, unique site assets, and team will achieve even more with this investment, and customers will receive an immediate benefit,” added Beirne. “It is an excellent time to unlock significant value and boost VRC’s growth through the company’s integrated formulary expertise and market expansion capabilities.”
Specialty chemicals producers are increasingly in need of companies with bulk distribution capabilities and high-end formulary expertise portable to a number of sectors. Companies attentive to differentiated service offerings in specialty chemicals are anticipated to grow rapidly over the coming years given the increased economic and regulatory emphasis on U.S. domestic agriculture and oil production.
“VRC has a demonstrated and respected ability to innovate and commercialize new surfactant and adjuvant formulations for our leading clients throughout the country,” noted Robert Green, Vice President and co-founder of VRC. “We are very excited to welcome Martin D. Beirne, III as our new CEO and look forward to benefiting from his and Cimbria’s management and operational expertise to take VRC to the next level.”
About VRC Technologies: VRC Technologies is a chemical formulations, manufacturing and distribution company that sells specialty chemistries to the agricultural and oilfield markets. The Company is founded by Robert Green and his father, Dr. Green, a former senior scientist for over 30 years at Witco Corporation who has designed new formulations of individual components and complex mixtures of proprietary chemical projects for the agribusiness, industrial, petrochemical, and pharmaceutical industries. VRC operates manufacturing and rail distribution facilities in Brownwood, Texas.
About Cimbria Capital: Cimbria Capital is a private equity firm based in Texas conducting early stage buyout and growth capital investments in the water technology and agribusiness sectors in North America and Europe.
For more information on VRC Technologies or Cimbria Capital, please contact Noah Sabich at ns@cimbriacapital.com.
Source: Cimbria Capital
