Carlyle-Backed PQ Bulks Up

PQ Corp., a specialty chemical company acquired in July by The Carlyle Group, has agreed to acquire INEOS Silicas, a division of INEOS. No financial terms were disclosed, except that the combined company would have annual sale revenue in excess of $1 billion. Carlyle Group will hold around a 60% stake in the company, while INEOS will hold around 40 percent. The transaction is expected to close by year-end.