- Continued growth of Macquarie Asset Management's strategy focused on making buyout investments into high quality, stable businesses that provide critical services, products and technologies to infrastructure end markets
- Transaction includes co-investment support from major institutional investors
Macquarie Asset Management, along with co-investors including UniSuper and Partners Capital, has entered into an agreement to acquire a majority stake in Potters Industries LLC., ("Potters"), a recognized leader in engineered glass beads and microspheres utilized in road infrastructure and other specialized industrial applications, from TJC, L.P. ("TJC"), a private investment firm. The transaction is expected to close in the first half of 2026, subject to regulatory approvals and customary closing conditions. Potters is headquartered in Malvern, PA, and has 26 manufacturing and logistics sites in North America and Europe, with a presence in South America and Asia.
The transaction follows Macquarie Asset Management's strategy of investing in high quality, stable businesses that provide critical services, products and technologies to infrastructure end-markets across North America and Western Europe. Macquarie Asset Management sees significant growth opportunities given structural tailwinds benefiting the infrastructure sector and substantial investment required in the decades ahead.
Potters leverages its proprietary manufacturing processes to engineer recycled and virgin glass into high performance glass beads, which are the critical component for retroreflective road markings and enable road stripes to be visible in nighttime and wet driving conditions around the world. Potters' glass microspheres are also embedded in critical products and applications in other infrastructure and related industries with strong sustainability and efficiency tailwinds.
This investment follows Macquarie Asset Management's acquisition of DynaGrid earlier this year. Macquarie Asset Management believes its network and infrastructure expertise provide a meaningful advantage in the areas of sourcing, diligence, and value creation.
Executive Commentary
Andrew Olinick, Senior Managing Director at Macquarie Asset Management
"We believe Potters is well-positioned to benefit from long-term sector tailwinds associated with road modernization and safety and growth in broader infrastructure markets making it a strong fit within our specialized strategy."
Helen Chiang, Senior Managing Director at Macquarie Asset Management
"Potters brings a distinctive combination of scale, proprietary manufacturing capabilities, and mission-critical products that support safer, more sustainable infrastructure. We are excited to support its next phase of growth by leveraging our deep expertise and global network."
Sandra Lee, Head of Private Markets at UniSuper
"Potters provides a compelling opportunity to deliver long-term value for our members while supporting critical infrastructure. We are pleased to partner with Macquarie Asset Management to invest in a company with a proven track record and advanced capabilities that strengthen infrastructure and enhance transportation safety and reliability. Quality assets like this offer the right combination of defensive and growth characteristics to help our members grow their retirement savings."
Jennifer Fox Bensimon, Managing Director at Partners Capital
"We are thrilled to partner with Macquarie Asset Management to support Potters' continued growth across transportation safety and performance materials in resilient infrastructure-related end markets. This is a compelling opportunity to partner with a leading private equity sponsor to invest behind mission critical engineered products that will help drive long-term value across our co-investment portfolio."
Ian Arons, Partner at TJC
"It has been a privilege to partner with the Potters team over the past several years as they executed on their growth strategy. We're proud of what we accomplished together and greatly appreciate the management team's dedication and collaboration throughout our partnership."
Robbie Redmond, Principal at TJC
"Together with management, we invested in innovation, operational excellence, and sustainability, strengthening Potters' foundation for continued success. We're confident the company will continue to thrive under Macquarie's ownership."
About UniSuper:
UniSuper is one of Australia's largest superannuation funds and is run for the benefit of its members. For over forty years, UniSuper has been managing super for people employed in the higher education and research sector, and as of 2021 opened the fund to all Australians. UniSuper currently invests approximately A$160 billion on behalf of approximately 670,000 members^.
