Chemtrade to acquire PE-backed General Chemical for $860 mln

Canadian industrial chemicals and services provider Chemtrade Logistics Income Fund (TSX: CHE.UN) has agreed to purchase General Chemical Holding Co for US$860 million. The transaction, which was last month anticipated in a report by Reuters, will see Chemtrade buy the Parsippany, New Jersey-based manufacturer of sulphuric acid and other chemicals from its current owner, U.S. private equity firm American Securities. American Securities took General Chemical private in 2009 for US$673 million. Chemtrade, which said the acquisition will strengthen and expand its existing platform, will finance the deal with US$1 billion in credit facilities and a $300 million equity raise.

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