Sidereal Capital Leads Recapitalization of Palmetto Adhesives
February 28, 2023
Sidereal Capital Group led a recapitalization of Palmetto Adhesives Company, LLC, partnering with the company's senior management while Parkway Capital, Spring Capital Partners, Route 2 Capital Partners, and MPowered Capital provided subordinated debt and equity support. Palmetto Adhesives, a Greenville, South Carolina–based manufacturer and distributor of hot melt and water-based adhesives with additional facilities in New Jersey and California, will use the capital to support growth and expansion initiatives.
- Buyers
- Sidereal Capital Group, Parkway Capital, Spring Capital Partners, Route 2 Capital Partners, MPowered Capital
- Targets
- Palmetto Adhesives Company, LLC
- Industry
- Manufacturing
- Location
- South Carolina, United States
- Transaction Type
- Recapitalization
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