HIG Capital Pays $180M for Cytec Chemicals Biz

Buyout shop HIG Capital is buying the building block chemicals business of Cytec Industries for $180 million in cash and notes, Reuters reported. The business makes raw materials used in automobiles, CD players and other home appliances, Reuters wrote. Cytec is based in Woodland Park, New Jersey. HIG Capital has $8.5 billion under management.

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