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February 25, 2024
Houston, TX – February 20, 2024 – Gilbert & Pardue LLC (“GaP”) is pleased to announce the sale of HoldTight™ Solutions, Inc. (HoldTight™), a distinguished specialty chemical company based in Houston, TX., to Corrosion Innovations LLC, a leading global industrial corrosion prevention solutions provider, also of Houston, Tx. GaP served HoldTight™ in the capacity of sell-side advisor The sale closed on February 20, 2024.
This strategic move signifies a key milestone in Corrosion Innovations' mission to revolutionize the corrosion control industry and reinforce its commitment to delivering cutting-edge solutions worldwide. It positions the company as a comprehensive solutions provider by combining the strengths of both companies to deliver unparalleled value in the corrosion prevention industry.
Best known for its Corr-Ze™ and CHLOR*RID™ product lines, Corrosion Innovations has consistently led the corrosion prevention sector.
Marlin Lester, CEO of Corrosion Innovations, stated, "HoldTight™, a vital player in the industrial coatings sector for over three decades, has been a strategic target from the start." He added, "Our team is eager to integrate HoldTight's widely used products, HoldTight 102 and 365, into our leading business, offering a synergistic approach to soluble salt removal and testing." President of Corrosion Innovations, Gregg Taney, commented, “This acquisition further strengthens our global footprint as the leader in the industry; providing comprehensive solutions for corrosion prevention, consultation and improved asset integrity.”
HoldTight™, established by Peter Petkas in 1998, has a strong track record in developing surface preparation products for flash rust prevention. Focused on enhancing coating adhesion by removing salts and contaminants, HoldTight™ has earned trust in industries like maritime, oil and gas, and construction.
Peter Petkas expressed confidence in Corrosion Innovations as the ideal custodian for HoldTight's™ future, sharing, "Their commitment to innovation aligns with the values that define HoldTight™." Kenneth Rossy, a long-term HoldTight™ employee, added excitement, stating, "This move reinforces our dedication to delivering high-quality corrosion prevention solutions globally.” Rossy will join Corrosion Innovations in a key role, overseeing the HoldTight™ brand as the Division Vice President.
Founded by Bret Pardue and Matt Gilbert, GaP Transaction Advisors is a Houston-based boutique advisory firm serving lower middle and middle market business owners from coast to coast through representation for Mergers & Acquisitions (M&A). “It is very gratifying to orchestrate the joining together of two well-respected industry leaders”, stated Bret Pardue, GaP co-founder and deal team leader for the HoldTight™ project. Pardue added, “The entire GaP deal team, and especially Bruce Lancaster (CFO) and Emma Kirchhofer (Director of Transaction Support), were instrumental in achieving an efficient closing for our client. We’re humbled by the confidence and trust placed in GaP by Peter and Alex Petkas and we wish Peter many years of happiness in his well-deserved retirement.”
Gilbert & Pardue Transaction Advisors is a Houston-based business advisory firm serving lower middle market business owners from coast to coast through representation for Mergers & Acquisitions (M&A).
Matt Gilbert and Bret Pardue established GaP to provide owners of businesses generally enjoying annual revenue of $10-$80 million with the quality of M&A representation and value-enhancement services previously only available to upper middle and large businesses. GaP brings highly experienced executives, sophisticated financial and marketing products, proven-effective processes, and fully integrated expertise to every engagement.
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