Maven achieves 4.2x return from sale of FIS Chemicals

Maven has successfully exited FIS Chemicals, generating a 4.2x return for participating investors in its deal-by-deal private equity offering, Maven Investor Partners. The business has been acquired by Shrieve Chemical, a US-based value-added distributor of speciality and commodity chemicals. The transaction has delivered an internal rate of return (IRR) of 33% for Maven, reflecting strong growth since the original investment in 2020.

Established in 1980 and based in Aberdeen, FIS specialises in the formulation, manufacture and distribution of chemical products for customers across a range of industrial sectors, including oil & gas, renewables, marine, hospitality and logistics. Following a Management Buy-In in 2020, led by Kenny Woods and Gordon Davidson, the management team has accelerated FIS’ growth by diversifying into new end-markets, growing internationally and expanding its product offering, both organically and through acquisition.

During the investment period, annual revenue increased by more than 160% and FIS has remained committed to improving energy usage practices and reducing environmental impact. As part of its annual ESG report, FIS has committed to achieving Net Zero emissions by 2030 and has reduced annual CO2 emissions by 70% since 2020.

"I would like to extend my sincere thanks to Maven for their belief in the business and for courageously backing the management team amid the 2020 pandemic. Their expert guidance, continued support and trusted partnership have been invaluable throughout this journey, and it has been a genuine pleasure working together. I am incredibly proud of what the FIS team has achieved. Our year-on-year growth is a testament to their dedication, talent and resilience." 

Kenny Woods, CEO of FIS Chemicals

"We are delighted to have supported the growth of FIS Chemicals and helped it reach this successful outcome. We had tracked the company for many years before investing and had always been impressed by its market leading products and its commitment to the highest environmental and ISO standards. The management team have performed exceptionally well in driving its expansion and we have every confidence the company will continue its exciting growth journey with its new US parent. It is also particularly pleasing to deliver such a strong return for Maven Investor Partners. Delivering positive outcomes such as this reflects the quality of Maven’s investment strategy, and the disciplined approach the team brings to value creation."

Martin McLaren, Partner at Maven