MFG News

Same Leadership Team, Commitment to Safety, Quality, Reliability, and Customer Intimacy

Chattanooga, Tennessee – [January 21, 2026] – MFG Chemical, a leading U.S. manufacturer of specialty chemicals, has been acquired by Windjammer Capital from Platte River Equity.

Founded in 1980 and headquartered in Chattanooga, Tennessee, with seven manufacturing plants, MFG provides customized chemical solutions for a diverse range of markets, including water treatment, industrial coatings, oil & gas, pulp & paper, personal care, mining, metal working, agriculture, and HI&I. The company is known for its commitment to manufacturing quality, plant safety, and customer confidentiality. MFG Chemical’s products improve plant efficiency, prolong asset life, and add valuable performance characteristics to their customers’ end-user products.

Windjammer will support MFG’s continued growth through investments in operational excellence, strategic acquisitions, and product development to expand its portfolio and end-market reach.

“MFG Chemical is highly aligned with Windjammer’s strategy of partnering with engineering and material science-driven niche market leaders that provide mission-critical products and services,” said Rob Quandt, Managing Director at Windjammer Capital. “The company’s differentiated formulation capabilities and strong customer relationships provide a solid foundation for long-term growth.”

“We are excited to partner with Windjammer as we build on MFG’s more than four decades of history,” said Paul Turgeon, Chief Executive Officer of MFG Chemical. “Windjammer’s experience scaling industrial manufacturing businesses and their collaborative approach make them an ideal partner as we continue to invest in our people, expand our capabilities, and serve our customers.”

“MFG’s ability to develop and manufacture complex chemistries for critical applications makes it an attractive platform within specialty chemicals,” said Greg Bondick, Managing Principal at Windjammer Capital. “We look forward to partnering with the management team to support the company’s next phase of growth.”

About MFG Chemical

MFG Chemical is a leading specialty and custom chemical manufacturer for a wide variety of markets. The Company is headquartered in Chattanooga, TN, and operates seven manufacturing facilities, three of which are in Dalton, GA, one in Chattanooga, TN, (Radical Polymers), one in Wood Dale, Il, near Chicago (Masters), and another in Puslinch, Ontario, near Toronto (HP Craft Polymers), with pilot testing and product development capabilities in Chattanooga and Dalton.

Core chemistries include water treatment chemicals, amides, esters, imidazolines, rheology modifiers, surfactants, alkyds, polyester, and solvent polymers. Additionally, MFG has extensively upgraded and expanded its plants’ capacities, received numerous industry Awards for plant safety and process efficiency, and has been recertified to ISO 9001:2015. MFG was named Specialty Chemical Manufacturer of the Year 2025 by Chemical Industry Review.

Over the past few years, MFG Chemical has acquired several innovative businesses, including Radical Polymers, Masters Company, Inc. (MCI), and HP Craft Polymers. Under Windjammer Capital’s ownership, MFG Chemical looks forward to more exciting acquisitions in the future.

For more information, visit www.mfgchemical.com.

About Windjammer

Windjammer Capital is a national private equity investment firm based in Newport Beach, CA, and Waltham, MA, that invests control equity in middle-market businesses in partnership with management. Windjammer has more than $3 billion in committed capital under its control equity investment strategy. Since its inception, it has completed more than 60 platform investments and more than 200 strategic add-ons. The firm targets investments in companies that are leaders in attractive niche markets and share several of the following characteristics: significant and defensible market positions; differentiated products and services; strong management teams; scalable business models; identifiable growth opportunities; and consistent financial performance. To learn more, visit windjammercapital.com.  

For Windjammer Capital inquiries, please contact Meredith Stein (mstein@windjammercapital.com).