Chemical Maker Acquired by Investment Firm

Signet acquired New Albany-based Blue Grass Chemicals in Dec. 2020

Ohio-based private equity firm Signet LLC has acquired Blue Grass Chemical Specialties LLC in New Albany. Terms of the acquisition were not disclosed.

The manufacturer produces chemical treatments for agricultural, wastewater treatment and nuclear waste irradiation.

The more than 50-year-old company makes some Blue Grass-branded products, but it also does contract manufacturing of custom proprietary products.

“We are delighted to add Blue Grass Chemical Specialties to our growing portfolio of manufacturing investments,” says Tony Manna, chairman of Signet. “We are actively pursuing specialty manufacturing opportunities in high-growth markets and Blue Grass fits this profile to a tee.”

Signet says it will integrate Blue Grass into its diverse portfolio. The equity firm says it intends to invest in the New Albany plant but did not release any specific details.

Signet says the current Blue Grass management team will remain in place.