Cold Jet, Seidler Equity Partners and Stonehenge Partners Transact Minority Investment Partnership in Collaboration with Harris Williams M&A Advisory Services

LOVELAND, Ohio, June 14, 2022 /PRNewswire/ -- Cold Jet, the global leader in innovative dry ice technologies that put recycled CO₂ to work for a cleaner, healthier planet announces it has entered into an investment partnership with Seidler Equity Partners and Stonehenge Partners in collaboration with Harris Williams.

"Cold Jet invented modern dry ice technology," said Gene Cooke III, President & CEO, at Cold Jet. "Our sole focus for 30+ years has been on developing and innovating the most technologically advanced dry ice solutions available. We solve the world's cleaning and transport cooling problems with products and services that are environmentally sustainable, do not add to the generation of waste streams, and are occupationally safe."

Cold Jet has two distinct lines of business centered on the use of dry ice. The company provides environmental cleaning, surface preparation, and parts finishing systems to global manufacturing industries. These systems utilize particles of dry ice as a blasting medium.

Secondly, the company produces systems for the production, metering and packaging of dry ice. These systems enable the consistent production of a controlled range of dry ice products for food transportation, cold chain management and dry ice cleaning.

Customers are using Cold Jet's technology-based solutions to replace outdated processes that are inefficient and harmful to health and safety by putting recycled CO₂ to work with a water-free, waste-free, and chemical-free solution.

Cold Jet is headquartered in Loveland, Ohio, USA with international operations in Europe, Asia, Canada and Mexico.

"As the industry leader across a range of dry ice applications, Cold Jet is well-positioned to capitalize on long-term tailwinds across the markets it serves," said Chuck Walter, a vice president at Harris Williams. "With innovative technologies, a longstanding commitment to ESG and sustainability, and a differentiated employee-centric culture, Cold Jet exemplifies the businesses we strive to represent."

"Dry ice has long been an essential contributor to the global economy", said Gene Cooke III. "However, it has taken on a new responsibility in humanity's fight against COVID-19 over the last few years. The impact of COVID-19 on global health and the global economy has been painful, but Cold Jet is extremely proud to play such a vital part in the distribution process of live-saving vaccines."

"I'm confident our new partnership with Seidler and Stonehenge, in collaboration with Harris Williams, will help forge an impactful new growth path for Cold Jet in taking on the responsibility for a cleaner, healthier planet," added Gene Cooke III.

"With its comprehensive portfolio of innovative and highly-specialized equipment, Cold Jet is a vital partner to a diverse and loyal customer base," said John Arendale, a managing director at Harris Williams.  "It was a pleasure working with Gene Cooke, founder and CEO, and the rest of the Cold Jet team, and we are excited to see their next chapter unfold in partnership with Seidler and Stonehenge."

Seidler and its affiliates have been investing in market-leading companies since 1992. Seidler aligns with business founders and management teams to achieve long-term growth objectives while preserving company culture. Headquartered in Marina del Rey, California, Seidler also has an office in Sydney, Australia and currently has over $3.5 billion of assets under management.

Stonehenge Partners is an Ohio based private equity fund that focuses exclusively on lower middle market companies. The company has raised more than $1 billion and are currently investing out of its fifth institutional fund. Stonehenge has a long history of partnering with entrepreneurs and management teams who are focused on improving their companies and building equity value. The company provides flexible capital that meets the needs of all stakeholders including majority equity, minority equity, debt, and combinations thereof.

Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).

For media inquiries, please contact Christian E. Rogiers, Senior Vice President, Global Marketing, Cold Jet at [email protected] .

SOURCE Cold Jet

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