Golden Gate Capital has completed the acquisition of ANGUS Chemical Company, a manufacturer and distributor of nitroalkanes and their derivatives, from The Dow Chemical Company for $1.2 billion. The transaction was first announced in November 2014. ANGUS will continue to be led by its current senior management team, including President and CEO Mark Henning.
ANGUS develops and manufactures nitroalkane-based chemicals which 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. Nitroalkane-based chemicals improve product durability, longevity, stability, bioresistance and corrosion control (www.dow.com/ANGUS).
This acquisition includes the ANGUS business headquarters and R&D facility in Buffalo Grove, IL; manufacturing facilities located in Sterlington, LA, and Ibbenbueren, Germany; a life-science additive facility in Niagara Falls, NY; as well as other assets of ANGUS including inventory, customer contracts, process technology, business know-how and certain intellectual property.
“We strongly support ANGUS management and believe their strategic vision for the company will drive long-term success,” said Rajeev Amara, Managing Director at Golden Gate Capital. “Looking ahead, we are focused on working with the ANGUS team to invest in targeted growth areas through their Customer Application Centers as well as in their people, capacity, next generation R&D and pipeline.”
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).
© 2015 PEPD • Private Equity’s Leading News Magazine • 2-3-15
