Golden Gate Capital has entered into an agreement to acquire ANGUS Chemical Company from The Dow Chemical Company for $1.215 billion. Members of ANGUS’ senior management team are expected to transition with the business following the close of the transaction.
ANGUS Chemical Company develops and manufactures nitroalkane-based chemicals. The company’s products are used in applications such as paint and coatings, metalworking fluids, personal care and cosmetics, life science utilities, pharmaceutical intermediates, rubber, leather and agricultural intermediates. ANGUS’ headquarters and R&D facilities are located in the Chicago suburb of Buffalo Grove. Manufacturing facilities are based in Sterlington, LA; Ibbenbueren, Germany; and a packaging factory located in Niagara Falls, NY (www.dow.com/ANGUS).
“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.”
Golden Gate Capital targets companies across a range of industries and transaction types, including leveraged buyouts, recapitalizations, corporate divestitures and spin-offs, build-ups and venture stage investing. The firm has approximately $12 billion of capital under management and is based in San Francisco (www.goldengatecap.com).
JPMorgan Securities is serving as financial advisor to Golden Gate Capital. JPMorgan Securities, Morgan Stanley and Deutsche Bank Securities are providing financing to support the transaction.
2014 PEPD • Private Equity’s Leading News Magazine • 11-13-14
