Alkegen, one of the largest specialty materials platforms in the world that provides high performance materials used in advanced applications such as filtration media, battery technologies, high temperature insulation and fire protection, announced today that it has successfully completed a tender offering resulting in Alkegen obtaining a controlling ownership interest in Luyang Energy-Saving Materials Co. Ltd., a Shenzhen A-share listed platform headquartered in Yuquan, Shandong province, China.
 
Luyang produces energy-saving materials in the fields of ceramic fibers, soluble fibers, alumina fibers and other high temperature insulating materials, and has been partnered with Alkegen since 2015. 
 
“From the very start of our partnership with Luyang seven years ago, we have been continuously impressed by the company’s management team and their ability to deliver on financial and commercial performance targets” said John Dandolph, President and CEO of Alkegen. “With this increased investment, we plan to leverage Luyang as our platform in Asia to extend and cross-sell many of Allergen’s other products and technologies that are core to the strategic direction of our global economy. These include systems that are defining our collective future such as filtration media, battery technologies, electric vehicle products, and specialty insulation materials. We are excited to continue investing in Luyang and deploying the Company’s resources to help our customers live greener, breathe easier, and go further than ever before.”
 
“This transaction marks another milestone in Alkegen’s journey toward becoming the global leader in advanced materials focused on lowering energy usage, reducing emissions and pioneering innovative solutions for the future of attractive high growth industries such as lithium-ion batteries and advanced filtration,” says José E. Feliciano, Co-Founder and Managing Partner, and Colin Leonard, Partner and Managing Director, at Clearlake.
 
“We couldn’t be more excited to sponsor John and the Alkegen team in this complex, transformative transaction that we believe will create meaningful value for customers and stakeholders globally, and is a great example of Clearlake’s O.P.S.^® value creation playbook in action,” adds Nate Mejías, Principal at Clearlake.