Kingswood Capital Management, LP announced that it has acquired Corbion's emulsifiers business (formerly known as Caravan Emulsifiers), which, moving forward, will operate under the name PATCO Products, LLC. PATCO is a provider of emulsifiers for a diverse set of end markets, including food products, polymer additives, pet foods, personal care, and pharmaceuticals. Vice president of emulsifiers at Corbion, John Miller, will continue to lead the company as its chief executive officer.
Headquartered in Lenexa, Kan., PATCO manufactures emulsifiers at two US-based facilities for both food and non-food applications, with an extensive distribution footprint servicing customers primarily across North America. Throughout its nearly 70-year history, the company has been focused on researching and innovating within emulsifiers and is committed to continue building upon its achievements to-date.
Lazard is serving as financial advisor and Stinson LLP as legal counsel to Corbion for this transaction. For Kingswood, Kirkland & Ellis is serving as legal counsel and Configure Partners as debt advisor.
