Glass

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 and Mexico. Its end markets include glass packaging, fiberglass insulation, flat glass, highway safety bead and air blast abrasives.

“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 and CEO, says, “Littlejohn’s investment is a strong endorsement for SMI and our employees and will further advance the Strategic Materials Operating System, which is rooted in continuous improvement, strategic growth and relentless execution. We also thank our former partners, Willis Stein and Vision Capital, who enabled us to grow our domestic footprint and enhance our product offerings with multiple acquisitions.”