(BUSINESS WIRE) – Golden Gate Capital today announced that it has entered into a definitive agreement to acquire ANGUS Chemical Company (“ANGUS”) from The Dow Chemical Company DOW, +0.56% for $1.215 billion.
ANGUS is the world’s only company dedicated to the manufacture and distribution of nitroalkanes and their derivatives, which are extremely versatile additives and intermediates that help customers to enhance their products’ performance. Industries successfully using ANGUS’ nitroalkanes and their derivatives include paints and coatings, life sciences and biopharma, metalworking, personal care, pharmaceuticals, water treatment, oil & gas and many others.
“ANGUS is widely recognized as one of the world’s leading specialty chemical companies, and we are excited by the growth potential of this business,” said Rajeev Amara, Managing Director at Golden Gate Capital. “With an exceptional reputation, skilled management team, and unique technologies and capabilities, ANGUS is well-positioned to continue to provide innovative solutions to help its customers succeed in growing their businesses. The ANGUS management team has a strategic vision for the company that we are eager to support and that aligns well with our long term investment horizon.”
ANGUS headquarters and R&D facilities are located in Buffalo Grove, IL; as well as manufacturing locations in Sterlington, La., and Ibbenbueren, Germany, and a packaging factory in Niagara Falls, N.Y. Under terms of the purchase agreement, ANGUS will continue to honor all customer, licensing and supplier contracts and related agreements. Members of ANGUS’ senior management team are also expected to transition with the business following the close of the transaction. The transaction is subject to regulatory approval and customary closing conditions and is expected to close in the first quarter of 2015.
Source: Golden Gate Capital