The transaction enables Speyside to further invest in Reed Minerals’ next growth phase.
Speyside Equity Advisers (“Speyside”) announced today that it has completed the carveout of Reed Minerals LLC (“Reed Minerals”) from Enviri Corporation (“Enviri”). The transaction will allow Speyside to continue investing in Reed Minerals and help drive the company’s next growth phase.
Reed Minerals is a leading provider of abrasive blasting media and roofing granules across North America. Since its founding in the 1930s, the company has been a green business, recycling byproducts into valuable performance products.
“The Reed Minerals deal begins a new chapter at Speyside, evidencing continuous improvement and focus applied to our third institutional fund,” says Eric Wiklendt, Managing Director at Speyside and Reed Minerals’ Board Chair. “With this acquisition, Reed Minerals can execute key product launches and acquisitions, thereby writing its next chapter of value creation.”
Reed Minerals President and CEO Greg Andersen noted, “We see Speyside as partners with whom we can work to usher in an entrepreneurial culture and investment in Reed Minerals. Speyside brings the new capitalization structure and value creation system needed to achieve our vision and drive results for our valued employees, suppliers, and customers.”
”The Reed Minerals deal begins a new chapter at Speyside, evidencing continuous improvement and focus applied to our third institutional fund.
Eric WiklendtManaging Director at Speyside and Reed Minerals’ Board Chair
Fifth Third Securities acted as Enviri’s financial advisor. Honigman LLP acted as Speyside’s legal advisor. Squire Patton Boggs acted as Enviri’s legal advisor.
