Coates Toners agrees MBO from Sun Chemical
The management of Coates Toners has agreed to acquire the principal assets of the business from parent company Sun Chemical. The MBO team comprises Larry Berti, Paul Clothier, and Jim Collins. The transaction closed on December 30, 2008.
Paul Clothier, CEO of Coates Toners, said “as a management team, we are pleased to be able to continue offering market leading products to our customers, and excited to refocus our business on growth as an independent company”.
Larry Berti, CMO of Coates Toners, said “our customers, staff and other stakeholders are all reacting very positively to this next stage of the development of our business”.
Jim Collins, CFO of Coates Toners, said “we are happy to be able to move forward on a sound financial backing, with great partners, which will allow us to grow market share even in these turbulent market conditions”.
Rosenn, Jenkins & Greenwald represented the MBO team in this transaction. Business Development Asia LLC and Clifford Chance represented Sun Chemical in the transaction.