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Chemical Company Bastech Acquired By Investor Group

BasTech, Inc., based in Jacksonville, Florida has been acquired by an investor group led by The Courtney Group, Incorporated and Cave Creek Capital Management, LLC in cooperation with management. BasTech produces chemical products for customers in paper, pulp, mining and fertilizer sectors. Investors in the transaction included The Courtney Group, Cave Creek, Jerry Rex and Gary Durrant, former executives at Dow Chemical and Union Carbide.

"With the completion of this transaction, we will be able to expand our horizon further, and still maintain the strong relationships we have built with customers and vendors over the past 46 years," said Jerry Rex, BasTech's President. "We will have a strong focus on providing quality products and a commitment to the highest level of customer service."

"We are excited to work with the team at BasTech. Our goal is to provide BasTech's productivity-enhancing products to a broader base of customers," said Tom Courtney, President, The Courtney Group.

"BasTech has some great technology and we look forward to pursuing growth opportunities that the company previously did not have the resources to go after," said Jerry Rex. "We are bringing in new resources which will allow us to grow and provide solutions to a wider range of customers. Terms of the transaction were not disclosed.

About the Deal

The previous owner of BasTech, who founded the company in 1961, sought a sale as part of his retirement planning. Meanwhile, Jerry Rex, BasTech's president who had been with the company since November 2005, was looking for a partner to help continue to grow and build BasTech. Management invested in the transaction alongside The Courtney Group and Cave Creek Capital Management.

About BasTech

BasTech is an innovative company with unique, proprietary technology for pulp, paper, mining and fertilizer markets. For more information please see:

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