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Penfund Announces Investment in Recochem

TORONTO, Nov. 07, 2023 (GLOBE NEWSWIRE) -- Penfund, an independent provider of junior capital to North American middle market companies, announced the completion of a unitranche debt investment in Recochem, Inc. ("Recochem" or the "Company"). Penfund served as a Joint Lead Arranger and Joint Bookrunner on the financing, which supported the acquisition of Recochem by funds managed by CapVest Partners LLP ("CapVest").

Founded in 1951 and headquartered in Montreal, Canada, Recochem is a leading Canadian manufacturer and distributor of auto aftermarket transportation and household fluids. The Company's product portfolio includes bulk and packaged solutions for coolant, windshield washer fluid, diesel exhaust fluid, appearance chemicals, household fluids and other industrial chemicals.

"We have followed Recochem for over a decade and are impressed by the Company's long track record of growth and its success in building a highly diversified and profitable platform. We believe Recochem has an opportunity to leverage its market leadership in Canada and rapidly growing presence in the United ...

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