Graycliff Partners Announces Investment in Dedoes Industries
Graycliff Partners, an independent investment firm focusing on middle market private equity and mezzanine investments, today announced it has provided subordinated debt and equity financing to Dedoes Industries, a global leader in equipment for the automotive refinish market. Graycliff’s investment supported the acquisition of the business by Ashland Capital Partners, a Chicago based private investment firm.
Headquartered in Walled Lake, MI and founded in 1941, Dedoes is the North American leader in the design and manufacturing of equipment that supports the automotive refinish market. The company’s products are used by auto refinish shops to mix, shake, proportion, formulate, cure and store both water and solvent based paint.
“Dedoes represents an attractive investment opportunity given its leading position within its market niche, combined with a stable revenue base tied to the auto aftermarket,” said Andrew Trigg, Managing Partner at Graycliff Partners. Garrett Wentzell, Vice President, added “We look forward to partnering with both Ashland and Management to foster the company’s strong position domestically and to further penetrate international markets.”
“We are excited to have the support of both Ashland and Graycliff to assist Dedoes in achieving its next phase of growth,” said Dave Pratt, President, Dedoes Industries.
About Graycliff Partners LP
Graycliff Partners is an independent investment firm focusing on middle market private equity and mezzanine investments in the United States and Latin America. Graycliff Partners LP is an SEC-registered investment advisor under the US Investment Advisors Act of 1940, as amended. Since 1991, the Graycliff Partners team, previously operating as HSBC Capital, has invested over $1 billion and completed over 80 transactions. With offices in New York and São Paulo, Graycliff Partners seeks to partner with companies led by strong, entrepreneurial management teams, providing capital for acquisitions, management buyouts, dividend recapitalizations, growth and expansion. For more information about Graycliff Partners visit www.graycliffpartners.com.