The Business

Franklynn Industries, Inc. (“Franklynn”) (www.franklynnusa.com) is a Cincinnati, Ohio-based manufacturer and marketer of water-based specialty functional coatings. Franklynn is a pioneer in the development and introduction of environmentally friendly mold-release coatings used in the manufacture of rubber, ethylene vinyl acetate, composites, polyurethane and thermoplastic products. Franklynn’s coatings are used in various molding processes (e.g., compression, injection, transfer, etc.) to provide a critical barrier between the tooling surface and the molded part. Franklynn’s broad line of mold-release coatings are marketed internationally under the Diamondkote® and Aqualift® brands to OEMs participating in the automotive, sporting goods, pharmaceutical, aerospace and building products industries.

The Industry

Franklynn participates in the global mold-release coatings market, a $500 million niche within the $430 billion specialty chemicals industry. Franklynn’s primary competitors are Chem-Trend L.P., Henkel KGaA, and E.I. du Pont de Nemours and Company. Franklynn will serve as a platform for ITW Performance Polymers to grow its share of the mold-release market both organically and by acquisition.

 The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to Franklynn and its shareholders. Prestwick Partners designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Illinois Tool Works Inc. Our process included both domestic and international strategic acquirers as well as private equity groups.