Littlejohn & Co. to Acquire Cornerstone Chemical Company

GREENWICH, Conn.–(BUSINESS WIRE)–Littlejohn & Co., LLC (“Littlejohn”), a private investment firm, today
announced that it has signed a definitive agreement to acquire
Cornerstone Chemical Company (“Cornerstone” or the “Company”), a leading
global manufacturer of key intermediate chemicals for high-value
industrial and consumer applications, from an affiliate of H.I.G.
Capital, LLC. Terms of the transaction were not disclosed.

Headquartered in Waggaman, LA, with a 65-year heritage, Cornerstone is a
producer of a wide-range of chemicals, including acrylonitrile,
melamine, sulfuric acid and other products to a diverse set of customers
in high-growth end-markets. The Company operates a state of the art
800-acre chemical complex, optimally located in the U.S. Gulf Coast with
full transportation and logistics capabilities, long-term onsite
partners and significant infrastructure for expansion. Cornerstone
employs approximately 460 people across North America and Europe.

Drew Greenwood, a Principal at Littlejohn, said, “Cornerstone is
a market leader with deep customer relationships, favorable industry
dynamics and numerous growth opportunities. We are delighted to be
partnering with Cornerstone and its strong management team as the
Company accelerates its growth and expansion plans.”

Greg Zoglio, Cornerstone’s CEO, added, “This is a very exciting new
chapter for our company and a strong endorsement for Cornerstone and our
highly talented workforce. We look forward to leveraging Littlejohn’s
unique perspectives and industry insights in the years to come. We would
also like to thank H.I.G for their partnership and support over the past
six years.”

The transaction is subject to customary closing conditions and is
expected to close in August 2017.

KeyBanc Capital Markets Inc. served as financial advisor to Cornerstone.
Goldman Sachs is providing committed financing to Littlejohn.

About Littlejohn & Co., LLC

Littlejohn & Co. is a Greenwich, Connecticut-based investment firm
focused on private equity and debt investments primarily in middle
market companies. With over $4 billion under management, the Firm seeks
to create long-term value for its investors and build sustainable
success for its portfolio companies through a disciplined approach to
engineering change. For more information about Littlejohn, visit http://www.littlejohnllc.com.

About Cornerstone Chemical Company

Headquartered in Waggaman, LA, Cornerstone is a producer of a wide-range
of intermediate chemicals, including acrylonitrile, melamine, sulfuric
acid and other products to a diverse set of customers in high-growth
end-markets. The Company operates a state of the art 800-acre chemical
complex, located in the U.S. Gulf Coast with full transportation and
logistics capabilities, long-term onsite partners and significant
infrastructure for expansion. Cornerstone employs approximately 460
people across North America and Europe.

Contacts

For Littlejohn & Co.
Gasthalter & Co.
Jonathan
Gasthalter/Nathaniel Garnick, 212-257-4170