BANYAN CAPITAL PARTNERS ANNOUNCES INVESTMENT IN INNOVATIVE SURFACE SOLUTIONS
Summary
Innovative marks the inaugural investment through Banyan Committed Capital LP, an evergreen investment vehicle that has recently closed its first $216 million tranche of commitments.Founded in 1986, Innovative Surface Solutions distributes liquid surface solutions to large treated salt partners, commercial customers, water treatment clients and government agencies across North America. Headquartered in Ajax, Ontario with its U.S. headquarters in Glenmont, New York, Innovative operates seven terminals with the capacity to store over 200 thousand metric tons of liquid product and process over 300 thousand metric tons annually, comprising the largest liquid distribution network in Eastern Canada and the Northeast U.S.Banyan is partnering with the Companys CEO and existing majority owner, Greg Baun, who has served in this role since 1994, to help facilitate Innovatives next phase of growth. Their long-term investment philosophy aligns with the objectives of my team to continue to grow our business throughout North America," said Greg Baun, CEO of Innovative Surface Solutions. Headquartered in Ajax, Ontario with its U.S. headquarters in Glenmont, New York, the Company operates seven terminal facilities with the capacity to store over 200 thousand metric tons and processes over 300 thousand metric tons annually.Founded in 1998 and under current management since 2008, Banyan Capital Partners is a Canadian based private equity firm that makes equity investments in middle market private and public companies throughout North America. Through a long-term investment approach, Banyan has developed into one of Canadas leading middle market private equity firms with an established track record of success in providing full or partial liquidity to founders, families and entrepreneurs and helping them take their business to the next level.