Osmose sold; management team remains
Buffalo, N.Y.-based Osmose Holdings, a manufacturer of wood preservation technology, will be acquired by investment funds managed by Oaktree Capital Management, of Los Angeles.
Osmose’s existing management team will remain in place, including James Spengler, president and CEO of Osmose.
“Osmose has built very strong brand recognition and a solid reputation for innovative products and services, excellent customer service, best in class safety performance and good growth prospects across all its business segments, which attracted Oaktree to seek a partnership with management to pursue strategic growth plans,” Spengler said, in a prepared statement. “Oaktree can provide substantial additional resources and is committed to investing in Osmose to help us expand our product and service offerings and to better meet and exceed our customers’ expectations.”
Terms of the deal were not revealed.
Ian Schapiro, managing director of Oaktree’s GFI Energy Group, said: “We look forward to working with Osmose’s world-class management team to continue to build on the company’s success.”
Osmose, a 78-year-old privately held company, was advised in this transaction by Western Reserve Partners.