Investment firm to buy Strategic Materials
Littlejohn & Co. LLC, a private investment firm based in Greenwich, Connecticut, has signed a definitive agreement to acquire Strategic Materials Inc. (SMI) from Willis Stein & Partners of Northbrook, Illinois, and London-based Vision Capital. Financial terms of the transaction were not disclosed.
Headquartered in Houston, SMI recovers and processes postconsumer and postindustrial glass, operating 47 facilities across the U.S., Canada
“Strategic Materials is a market leader with a unique customer value proposition and several actionable growth opportunities,” says Brian Michaud, a principal at Littlejohn. “As recycled product demand and sustainable manufacturing practices have become a priority for numerous markets worldwide, we believe Strategic Materials is at the forefront to meet those product needs and services on a much larger scale.”
Denis Suggs, SMI president