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.
American Securities has agreed to sell General Chemical Corp. to Chemtrade Logistics Income Fund for $860 million. The deal is expected to close in December or January. Parsippany, N.J.-based General Chemical makes a portfolio of inorganic chemical products, which operates three business units: Water Treatment Chemicals, Sulphuric Acid, and Specialty Chemicals. Barclays and Key Bank acted as financial advisors to American Securities and General Chemical. UPDATE: David Bradley and Richard Burke of Jefferies, along with BMO Capital Markets, provided financial advice to Chemtrade.
Shannon Capital Management, a small to middle-market corporate debt manager, has refinanced Calumet Photographic. No financial terms were disclosed. Livingstone served as the financial advisor to Calumet in the transaction. Headquartered in Chicago, Calumet is a specialty retailer of high-end photographic and video equipment.
Sentinel Capital Partners said Wednesday that it has sold Engineered Controls International to Windjammer Capital Investors. No financial terms were disclosed. Based in Elon, NC, ECI is a provider of specialized pressure regulators, valves and other control equipment used in the transportation, delivery, and storage of propane, liquefied natural gas, and other cryogenic gases.
Golden Gate Capital has acquired Safety Technology Holdings from Wynnchurch Capital. Terms of the deal were not disclosed. The company will continue to be led by the current management team.
Monomoy Capital Partners has sold Heat Transfer Products Group to Rheem Manufacturing Company. Terms of the deal were not disclosed. Monomoy acquired Heat Transfer Products in 2010 from Carrier Corporation.
Indigo Partners has closed its acquisition of Frontier Airlines from Republic Airways Holdings. Terms of the deal, which was first announced on October 1, 2013, are not being disclosed.
Black Swan Energy has completed a $150 million round of investment. Commitments come from its existing shareholders which include Warburg Pincus, Canada Pension Plan Investment Board and KERN Partners.
TA Associates is to acquire CMOSIS, a supplier of high performance standard and custom CMOS image sensors. The transaction is conditional on regulatory clearance and is expected to be completed by early 2014. Terms of the transaction were not disclosed.
Marlin Equity Partners has acquired Critical Path, a San Mateo, CA-based global provider of messaging, email security, corporate directory and other unified communications solutions. No financial terms were disclosed.