TJC Completes Acquisition of Delrin®
WILMINGTON, Del.–(BUSINESS WIRE)–TJC L.P. (“TJC”) announced the successful close of the acquisition of Delrin®, a highly differentiated, global homopolymer business. Today marks the launch of Delrin® as an independent company, building on a 60+ year legacy of partnering with customers to help solve their toughest technical challenges. Under TJC’s ownership, Delrin is well positioned for growth by continuing to innovate in partnership with our customers across mobility, healthcare, material handling, industrial automation and consumer end markets, and invest in our technology and capabilities.
Delrin’s employees and operations will continue to operate the business in the normal course, providing stability and consistency to customers and suppliers with whom the Company maintains long-standing relationships. Delrin has supplemented its team to drive further growth as a standalone business and today announced the appointment of key leaders that will help steer the future of the company.
Juergen Pongratz will join Delrin as President and CEO. Juergen brings more than 25 years of progressive experience across technology, marketing and sales, procurement and business management and has a deep understanding of the engineered materials space. After previous roles at Celanese, Avantor and BASF, Juergen’s most recent role was President of Biotherapeutics and Pharmaceuticals at ILC Dover. Juergen said, “I am excited to join the Delrin team at this pivotal moment. It is an iconic brand, and we will drive success for our customers, suppliers and employees by focusing on our core strength of making the world’s leading homopolymer – a product unrivaled in the industry.”
Sriram Nadathur has been promoted to Senior Vice President and General Manager of Delrin. Sriram has 18 years of experience across DuPont, Crane Co. and McKinsey and has experience leading global engineered materials businesses, driving organic growth and operational improvement, and orchestrating acquisitions. Having led Delrin through a successful sale transaction, Sriram said “We are thrilled for the future of Delrin under our new ownership and look forward to delighting our customers as we grow the business.”
Dean Meyer will join Delrin as Chief Information Officer. He brings over 30 years of experience building and deploying results driven technology across multiple companies. Dean joins Delrin from Chemours, where he served as Chief Information officer from 2015. Prior to Chemours, he held various IT leadership and development roles at Hexion, Delphi Automotive, and Dow Chemical.
Ian Arons, Partner at TJC said “We look forward to partnering with the Delrin team to continue building a world class organization, elevating customer relationships, enhancing capabilities across design, technology, commercial and operational functions, and delivering exemplary customer service.”
For more information on Delrin, visit www.delrin.com.
About Delrin
Delrin® is an industry leading premium industrial polymer business. Grounded in strong innovation, Delrin® is a category creator with a longstanding reputation for quality, reliability, supply, and product performance. The iconic Delrin brand, coupled with proprietary technology and deep application expertise make us a leader in the high-end engineering polymer market. Delrin® has exciting growth prospects from exposure to automation, actuation, healthcare, mobility, and consumer applications.
About TJC LP
TJC, L.P. (formerly known as The Jordan Company), founded in 1982, is a middle-market private equity firm that has raised funds with original capital commitments in excess of $23 billion and a 41-year track record of investing in and contributing to the growth of many businesses across a wide range of industries including Diversified Industrials; Technology, Telecom & Power; Logistics & Supply Chain and Consumer & Healthcare. The senior investment team has been investing together for over 20 years and is supported by the Operations Management Group, which was established in 1988 to initiate and support operational improvements in portfolio companies. TJC has offices in New York, Miami, Chicago, and Stamford. For more information, visit www.tjclp.com.
On August 21, 2023, DuPont announced definitive agreements to sell an 80.1% controlling interest in Delrin® to TJC LP.
Contacts
Media:
John Lenox, Communications Lead, Delrin
John.lenox@delrin.com
(609)667-5096
Jonathan Marino
Prosek Partners
