Canada’s Chemtrade to acquire General Chemical for $860m

04 December 2013 14:22  [Source: ICIS news]

TORONTO (ICIS)--Canadian industrial chemicals producer Chemtrade Logistics has agreed to acquire US-based General Chemical for $860m (€636m), it said on Wednesday.

General Chemical, based in Parsippany, New Jersey, is a North American manufacturer of inorganic chemical products with three business units: water treatment chemicals, sulphuric acid, and specialty chemicals.

General Chemical operates 45 facilities across the US and Canada, employing about 540 people. For the 12 months ended 30 September, it had revenues of $390m.

"General Chemical has strong portfolio alignment with our current business, enhancing our existing sulphuric acid geographic footprint and greatly expanding our water treatment business so it now extends across most of North America,” said Chemtrade CEO Mark Davis.

“The acquisition of General Chemical also moves Chemtrade into new but related product categories and end markets, and positions Chemtrade to capitalise on new growth opportunities," Davis added.

Under the deal, Toronto-based Chemtrade will acquire all outstanding shares of ASP GT Holding, General Chemical's parent company, from certain funds controlled by private equity firm American Securities LLC.

($1 = €0.74)

By: Stefan Baumgarten
+1 713 525 2653

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