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The Courtney Group Announces Acquisition and Financing of Henkel Corporation's Paper Chemicals and Construction and Processing Chemicals by GEO Chemicals

The Courtney Group, Incorporated announced the closing of the acquisition by GEO Chemicals, Inc. of the Paper Chemicals and Construction and Processing Chemicals Divisions of Henkel Corporation. The transaction was structured as a sale of assets. The Courtney Group acted as financial advisor to GEO Chemicals in the transaction. The Paper Chemicals business, based in Cedartown, Georgia, produces and markets additives and coating lubricants to the paper coating industry; defoamers and dispersants to the pulping industry; defoamers, felt conditioners, cleaners and niche wet strength resins to the papermaking industry; and deinking chemicals to the recycling segment.

The Construction and Processing Chemicals business, located in Harrison, New Jersey, manufactures and markets specialty chemicals which provide performance benefits to the construction, oil field, SBR/latex polymerization, and ceramics industries. GEO Chemicals, Inc. operates twelve plant locations in North America. Its primary markets are in specialty chemicals for the paper industry, industrial and waste water treatment, and other specialty areas. The businesses GEO acquired had revenues in 1997 of approximately $70 million. Terms of the transaction were not disclosed.

As part of the assignment, The Courtney Group assisted GEO in securing a substantial equity investment from Charter Oak Partners, in Westport, Connecticut. Charter Oak is a private equity investment firm which invests in manufacturing and service companies with outstanding management teams, strong growth potential and healthy operating profits.

About The Courtney Group

The Courtney Group, is an investment banking firm which specializes in advising clients on mergers & acquisitions as well as raising capital for buyouts, acquisitions, recapitalizations and growth. The Courtney Group's targeted industry areas are: (1) chemical, (2) healthcare, (3) technology and (4) investment management. The firm typically works with companies that have revenues between $5 million to $500 million. For further information on the firm please visit www.thecourtneygroup.com.

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