ALTIOS Corporate Finance supports PROTEX International in the acquisition of the US company Greenfield Manufacturing Inc. (GMI)

Press Release - May 2024

An acquisition allowing PROTEX International to expand its activities in the US market.

In May 2024, the shareholders of Protex International, Mr. Robert Moor and his family, an independent French company specialized in manufacturing niche chemicals, has acquired 100% of Greenfield Manufacturing Inc., a US manufacturer of specialty chemicals.

Greenfield Manufacturing Inc. is an industrial company specializing in chemicals manufacturing, founded by Duane Palmateer, and based in Saratoga Springs, NY.

The Protex International group is offering services to ensure the development, manufacturing, and distribution of specialty chemicals additives for a wide range of sectors.

This acquisition strengthens the position of Protex and its US subsidiaries (Protavic America) in the US market with now 2 locations.

The Protex International group has a long history of commitment to innovation and quality in the field of specialty chemicals. With its strong family values, the group shares with GMI a common passion for innovation, and customer satisfaction.

A transaction supported by Altios Corporate Finance

The role of Altios Corporate Finance was to support Protex International group in its M&A strategy in the US. The mandate involved several steps, from identifying companies that complement Protex International group in terms of geography and business lines, contacting the relevant targets, carrying out a financial analysis of these targets, and finally assisting the group through the negotiations and due diligence phases up to closing.

The role of Altios Corporate Finance:

  • Screening of the US market
  • Approach the qualified targets
  • Financial analysis and valuation of the target company
  • Due diligence coordination
  • Support in negotiating LOI, SPA & other transactional documents

Testimony of Protex International

The common values shared by GREENFIELD MANUFACTURING Inc. and PROTEX INTERNATIONAL - commitment to innovation and constructive relationships with our American customers - will ensure a smooth integration and maximize synergies

Robert Moor, CEO and Chairman – Protex International

Testimony of Altios Corporate Finance

We are pleased to have finalized this deal enabling Protex to strengthen its presence in the US. The similar values with GMI and its focus in specialty chemical products will ensure a smooth integration and maximize the synergies.

Alexandre Kaplan, M&A Director – Altios Corporate Finance


Buyer’s advisors:

  • Altios Corporate Finance (M&A): Alexandre Kaplan, Camille Garbolino and Nicolas Vacher
  • Mirick O’Connell (Legal): David E. Surprenant and Andrew A. Croxford
  • Shaheen, Pallone & Associates (Financial / CPA): Bill Shaheen Sr. and Bill Shaheen

Sellers’ advisors:

  • Independent (Legal): William W. Dailey
  • Independent (Financial / CPA): Rebecca J. Herrick

Contact Press: Alexandre Kaplan, M&A Director,

Protex international x Greenfield

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