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Golden Gate Capital today announced that it has entered into a definitive
agreement to acquire ANGUS Chemical Company (“ANGUS”) from The Dow Chemical
Company
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.
JPMorgan Securities LLC is serving as financial advisor to Golden Gate
Capital. JPMorgan Securities LLC, Morgan Stanley and Deutsche Bank Securities
Inc. are providing financing to support the transaction.
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