PASADENA, TX, May 1, 2017 – Dixie Chemical announced that it has named Theodore (Ted) H. Butz as Executive Chairman. Mr. Butz will be joining the Board of Directors and will become a member of Glencoe Capital’s executive network.. (Mr. Butz is pictured below).
Mr. Butz brings over 25 years of experience in building specialty chemicals businesses. Prior to joining Dixie Chemical, he was President and CEO for Pinova Holdings, a leading supplier of natural and renewable chemistries for consumer and industrial markets. Prior to Pinova, Mr. Butz was Group President for the Specialty Chemicals business at FMC Corporation (NYSE: FMC).
During his tenure at Pinova, Mr. Butz broadened the company’s portfolio of businesses to become a leading supplier of specialty natural and renewable materials through a renewed focus on customer engagement, open innovation and operational excellence. Mr. Butz led the successful sale of the company in 2016 to Symrise AG, a leading Flavor and Fragrance supplier. At FMC, Mr. Butz oversaw significant growth in Specialty Chemical revenues and profitability, driven by the successful integration of several acquisitions, expansion in emerging markets and repositioning of investment resources toward faster growing markets.
Mr. Butz managed global businesses serving diverse markets including food ingredients, pharmaceuticals, personal care, biomaterials, energy storage, specialty adhesives and polymers. He led corporate strategy and development activity at FMC, American National Can, Staley Continental and Dole Foods.
“We are pleased to have Ted join our team and guide Dixie through its next growth evolution,” said David Evans, Chairman of Glencoe Diversified Holdings LLC and Dixie’s majority shareholder. “Ted’s extensive experience leading global specialty chemicals businesses made him the ideal choice for Executive Chairman. He has a proven track record of growing companies, developing people, executing long-term strategy, and seizing new opportunities to create value through organic growth and acquisitions.”
“I am very excited to be working with Mike Gromacki and the Dixie team,” said Mr. Butz. “Dixie Chemical built a stronger brand by providing their core markets and global customers with innovative solutions and technical support. I am delighted to be joining a company that embraces the value of working closely with customers!”
“We look forward to the energy, experience, and global market vision that Ted brings to the table to help us unlock transformative growth for Dixie”, said Mike Gromacki, President of Dixie Chemical and NAM Board Member. “Ted’s core values, mentoring, and market facing philosophy align well with Dixie and our management team.”
Mr. Butz holds an M.B.A. from the University of San Francisco and a B.S. in Finance from Arizona State University.
About Glencoe Diversified Holdings, LLC
Glencoe Diversified Holdings, LLC (Glencoe Diversified) is an affiliate of Glencoe Capital, LLC (Glencoe Capital). Glencoe Diversified is a holding company with over $650 million in revenue and $80 million in adjusted EBITDA. Glencoe Capital was founded in 1994 by David Evans. Glencoe Capital’s and its affiliates’ investing activities have been in the middle market buyout sector. Since 1994, Glencoe Capital and its affiliates have invested $1.35 billion at cost in 87 portfolio companies. Learn more at www.glencap.com
About Dixie Chemical Company
Since 1946, Dixie Chemical has been committed to manufacturing high-quality, high-performance chemical products that improve our world. With 300 customers in 25 countries, Dixie Chemical is a proven partner for open innovation in thermoset materials, alkaline paper sizing, and fuel and lube markets. For more information, visit www.dixiechemical.com.