Thought Leadership / News
March 4, 2021 
 Press Releases
Gray Reed Represents Founders of Chem32 LLC in $44 Million Sale of Membership Interests to PQ Group Holdings Inc. (NYSE: PQG)

Gray Reed represented the founders of Chem32 LLC, of Orange, Texas (Chem32), in the sale of their membership interests to a subsidiary of PQ Group Holdings Inc. (PQ) in exchange for $44 million dollars in cash consideration. Chem32 is a leading supplier of catalyst pre-activation services used in the production of traditional and renewable fuels.

Gray Reed supported Chem32’s efforts from the transaction’s inception through closing. The deal team was led by Gray Reed Partner and Transactional Department Co-Chair Wes Dorman and included Amy Lott, Toni Meier, Dan Kroll, Marcus Fettinger, Robbie Morris, Grace Rollinger, and Chad Kell (with contributions by many others). The process required close collaboration between Gray Reed subject matter experts across a wide variety of practice groups, including mergers & acquisitions, real estate, taxation, intellectual property, labor & employment, and environmental.

“The transfer of ownership to the PQ Group offers expanded opportunities for our employees and the company," said Soren Marklund, one of Chem32’s founders and selling members. "The process was skillfully managed by the Gray Reed Team.” 

“We were thrilled to have the opportunity to represent Chem32’s ownership in this transaction,” Dorman said. “Assisting such successful entrepreneurs with obtaining the benefit of their tireless work and personal investment in their company was a rewarding experience for our team. We look forward to the company’s continued success under PQ’s management.”

About Gray Reed

A full-service Texas law firm with offices in Dallas, Houston and Waco, Gray Reed provides legal services to companies ranging from start-up to Fortune 500 as well as high net worth individuals. Gray Reed attorneys assist clients with a myriad of legal issues including commercial litigation, corporate transactions, oil and gas, tax planning and litigation, real estate, construction, healthcare, trusts and estates, employment law, family law, intellectual property and bankruptcy. For more information, visit