Hyde Park Capital Announces Sale Of GemSeal To Bonsal American
Tampa, Florida - July 24, 2008 - Hyde Park Capital Advisors, LLC is pleased to announce the sale of GemSeal, Inc. to Bonsal American, a division of Oldcastle Architectural Products Group. Headquartered in Tampa, Florida, GemSeal manufactures asphalt pavement maintenance products for use by commercial contractors on asphalt surfaces surrounding retail, residential, and industrial properties. Hyde Park Capital Advisors, LLC, the investment banking subsidiary of Hyde Park Capital Partners, LLC, served as GemSeal’s exclusive financial advisor in the transaction.
Founded in 1957, GemSeal produces the finest coal tar pitch emulsion in the industry. Respected for high business ethics and service, the family owned enterprise, now in its third generation of ownership and management, has earned its position as the leading manufacturer of quality sealers and services in the U.S. For more information about GemSeal, visit www.gemsealinc.com.
George Mariani Jr., President of GemSeal, said, “We are excited to be part of Bonsal American, which has the same focus on quality, customer service and technical innovation as GemSeal. Bringing these two strong regional companies together will now enable pavement maintenance contractors from Texas to Maine to obtain a broader selection of products to meet all of their pavement maintenance needs. We greatly appreciate the investment banking services of Hyde Park Capital in the sale of our company.”
Jeff Lax, Vice President and General Manager for Bonsal American’s Pavement Maintenance Products division, said, “GemSeal has been a leading sealcoat manufacturer since 1957, and we are fortunate to acquire a company with such a successful track record and solid reputation in the industry. Contractors and property managers will benefit from the combination of two outstanding companies focused on providing superior products for maintenance and repair of pavement surfaces.”
“We are pleased to have represented GemSeal in this very important transaction,” said John H. Hill Jr., Senior Managing Director with Hyde Park Capital Advisors, LLC. “Bonsal American and its parent company, Oldcastle, are widely known as industry leaders in building material products. GemSeal is an excellent fit with Bonsal American’s existing product line.”
About Bonsal American
Bonsal American, Inc. is one of the largest producers of packaged building material products in the United States including cement mixes, concrete repair and restoration products, tile and stone installation products, bulk masonry mixes and pavement maintenance products. Headquartered in Charlotte, North Carolina, Bonsal American is a division of Oldcastle Architectural Products Group. Oldcastle’s parent company, CRH plc, is based in Ireland and has operations in 28 countries, with 80,000 employees at more than 3,300 locations worldwide. For more information about Bonsal American, visit www.bonsalamerican.com. For more information about Oldcastle, visit www.oldcastle.com.
About Hyde Park Capital
Hyde Park Capital is an institutionally focused investment banking firm serving the corporate finance needs of companies typically located in the Southeastern United States. Our principals have extensive investment banking experience executing merger & acquisition engagements, including purchase and sale of company assignments, recapitalizations, financial advisory, fairness opinions and raising growth capital for companies, including equity, mezzanine and senior debt. With experience in the technology, healthcare, financial services, business services, consumer, and industrial sectors, we broadly represent outstanding growth companies in any industry. We pride ourselves on our professional representation of family owned and entrepreneurial driven large private companies. As one of the most active investment banking firms in the Southeast, our professionals have advised on more than 300 corporate investment banking transactions totaling more than $10 billion in transaction value. We are headquartered in Tampa, Florida and are a member of FINRA and SIPC. For additional information about Hyde Park Capital, visit www.hydeparkcapital.com or call (813) 383-0202.