Banyan Capital Partners (“Banyan”), a leading Canadian middle market private equity firm has made an investment in Innovative Surface Solutions LP (“Innovative” or the “Company”), a leading distributor of liquid surface solutions in North America.
Founded in 1986, Innovative Surface Solutions distributes liquid surface solutions to large-treated salt partners, commercial customers, water treatment clients and government agencies across North America. Headquartered in Ajax, Ontario with its U.S. headquarters in Glenmont, New York, Innovative operates seven terminals with the capacity to store over 200 thousand metric tons of liquid product and process over 300 thousand metric tons annually, comprising the largest liquid distribution network in Eastern Canada and the Northeast U.S.
Banyan is partnering with the Company’s CEO and existing majority owner, Greg Baun, who has served in this role since 1994, to help facilitate Innovative’s next phase of growth. Greg will remain in the role of CEO post-close and retain a significant ownership stake in the Company.
“I am pleased to have chosen Bill and his team to advise me through this transaction. The experience of the CCC team helped get it to the finish line.” said Greg Baun, CEO of Innovative Surface Solutions.
CCC Investment Banking (“CCC”) acted as the exclusive financial advisor to Innovative Surface Solutions.