Press Release

Morgan Lewis Guides Cypress on Separate Sales of Its Two Operating Companies

October 20, 2021

NEW YORK, October 20, 2021: Morgan Lewis represented Cypress Performance Group LLC, a holding company focused on value-added manufacturing and industrial service businesses, in successfully closing individual sales of its two operating businesses in a dual-track process within this last month. 

Most recently, on October 18, Cypress closed on the sale of its subsidiary Encapsys LLC to Milliken & Company, a global manufacturing company. Encapsys specializes in microencapsulation technology that is used in production and manufacturing in home care, personal care, agriculture, textiles, bedding, and carbonless paper.

On October 1, Cypress closed its sale of IPS Corporation to Centerbridge Partners. IPS, with operations throughout the United States, Europe, and Asia, provides a comprehensive offering of specialized, highly engineered industrial products including solvent cements, rough plumbing and roofing products, and structural and surface adhesives.

Morgan Lewis partners Alec Dawson and Andrew Milano, and associates Rebekah Raber and Samuel Worth advised Cypress on both transactions. For more, read the Encapsys announcement and the IPS announcement.