Golden Gate Capital has agreed to acquire ANGUS Chemical Company from The Dow Chemical Company for about $1.2 billion. ANGUS makes chemicals used to enhance products in industries like paints and coatings, life sciences, biopharmaceuticals, metalworking, personal care, water treatement and oil and gas. JPMorgan Securities is financial advisor for Golden Gate, and JPMorgan Securities, Morgan Stanley and Deutsche Bank are providing financing for the deal.
Golden Gate Capital today announced that it has entered into a definitive agreement to acquire ANGUS Chemical Company (“ANGUS”) from The Dow Chemical Company (NYSE: DOW) for $1.215 billion.
ANGUS is the world’s only company dedicated to the manufacture and distribution of nitroalkanes and their derivatives, which are extremely versatile additives and intermediates that help customers to enhance their products’ performance. Industries successfully using ANGUS’ nitroalkanes and their
derivatives include paints and coatings, life sciences and biopharma, metalworking, personal care, pharmaceuticals, water treatment, oil & gas and many others.
“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.”
ANGUS headquarters and R&D facilities are located in Buffalo Grove, IL; as well as manufacturing locations in Sterlington, La., and Ibbenbueren, Germany, and a packaging factory in Niagara Falls, N.Y.
Under terms of the purchase agreement, ANGUS will continue to honor all customer, licensing and supplier contracts and related agreements. Members of ANGUS’ senior management team are also expected to transition with the business following the close of the transaction. The transaction is subject to regulatory approval and customary closing conditions and is expected to close in the first quarter of 2015.
JPMorgan Securities LLC is serving as financial advisor to Golden Gate Capital. JPMorgan Securities LLC, Morgan Stanley and Deutsche Bank Securities Inc. are providing financing to support the transaction.
About Golden Gate Capital
Golden Gate Capital is a San Francisco-based private equity investment firm with approximately $12
billion of capital under management. Golden Gate Capital is dedicated to partnering with world-class
management teams to invest in change-intensive, growth businesses. The firm targets investments
where there is a demonstrable opportunity to significantly enhance a company’s value. The principals of
Golden Gate Capital have a long and successful history of investing with management partners across a
wide range of industries and transaction types. Other notable mining and industrials investments
sponsored by Golden Gate Capital include US Silica, EP Minerals, ArrMaz, Humanetics Innovative
Solutions, Springs Window Fashions, Canada Fluorspar Inc. and Atrium Windows. For more information,
About ANGUS Chemical Company
ANGUS Chemical Company (“ANGUS”), a wholly owned subsidiary of Dow, is a specialty amine company
dedicated to the development of novel chemistry that helps customers deliver enhanced product and
process performance. ANGUS is committed to constantly improving products and services by mastering
science and technology. The company innovates through its unique nitroalkane chemistry, which
harbors the reactivity to create complex molecules for use in a wide variety of applications. The innate
characteristics of this chemistry enable multifunctional additives which improve performance, reduce
reaction steps and cut synthesis costs. More information about ANGUS can be found at