Capstone Builds Michelman-Maruyoshi Chemical Joint Venture

January 13, 2014 (McLean, VA) – Capstone Strategic, Inc., a leading management consulting firm specializing in strategic growth, announced today that Michelman and Maruyoshi Chemical have entered into a joint venture, Maruyoshi Michelman Co. Ltd.

Michelman is a global developer of water-based coatings headquartered in Cincinnati, OH. Maruyoshi is a specialty waterborne polyolefin emulsions and chemical trading company located in Gifu, Japan. Capstone advised Michelman on this transaction and has supported Michelman on numerous other transactions since 1995.

The joint venture will expand Michelman’s polyolefin emulsions business in the Japanese market while providing customers with new state-of-the-art solutions. Michelman’s team will provide strategic market development capabilities and experienced sales and technical support.

“We have long admired Maruyoshi for the innovative solutions they bring to the market,” said Mr. Steve Shifman, President and CEO of Michelman. “They listen closely to their customer’s needs, they’re agile and responsive, and focus on developing deep, collaborative relationships that result in custom, technically superior formulations. Bringing our two companies together allows us to offer Japanese customers a rare combination of talent.”

Capstone’s Managing Director, Mr. John Dearing, commented: “Once we evaluated the strategic fit, Capstone facilitated the successful ownership conversations that resulted in the right solution for the Michelman and Maruyoshi partnership. As a result of this transaction, new doors will open in Japan and globally for both organizations.  Michelman’s leadership team was able to achieve their strategic growth objective of strengthening their position in a targeted geography while leveraging their infrastructure and technological capabilities through this joint venture. We are proud of Capstone’s longstanding partnership with Michelman.”

Mr. Bob Poletti, Michleman’s Corporate Development Officer added, “Given the excellent long-term support Michelman has received from Capstone, we are already pursuing additional external growth initiatives together.”

About Michelman, Inc.

Michelman is a global developer of water-based barrier and functional coatings for flexible film packaging, paperboard, and corrugated cartons; and water-based surface modifiers, additives and polymers for numerous industries including wood and floor care, industrial coatings, inks, fibers, composites, and construction products. Michelman serves its multinational and regional customers with production facilities in the U.S., Europe and Singapore, and a worldwide network of highly trained field technical support personnel.

About Capstone Strategic, Inc.

Capstone is a management consulting firm located outside of Washington DC specializing in corporate growth strategies, primarily Mergers & Acquisitions. Founded in 1995 by CEO David Braun, Capstone has facilitated over $1 billion of successful transactions in a wide variety of manufacturing and service industries. Capstone utilizes a proprietary process to provide tailored services to clients in a broad range of domestic and international markets.  For more information about Capstone and its growth strategy and advisory capabilities, please visit Capstone can also be reached at 703.854.1910 or