One Equity Partners has acquired Norit, a maker of activated carbon for purification solutions, from corporate parent Cabot Corporation. No financial terms were disclosed.
NEW YORK–(BUSINESS WIRE)–One Equity Partners (“OEP”), a middle market private equity firm, today announced that it has completed the acquisition of Norit Activated Carbon (“Norit” or “the Company”), a global manufacturer of activated carbon for purification solutions, from corporate parent Cabot Corporation (NYSE: CBT).
“Norit has been a leading player in the activated carbon space for over 100 years, and we are excited to partner with the Norit team and help drive the company’s growth and development,” said Joe Huffsmith, Managing Director, OEP.
Norit manufactures a broad portfolio of activated carbon products used for purification needs in growing sectors including renewable natural gas, food and beverage, chemicals, pharmaceuticals, air quality, water, and automotive. The Company operates two plants in North America, five facilities in Europe and participates in three joint ventures in Canada, Asia and Mexico.
“The senior management team and I are eager to collaborate closely with OEP’s professionals as we continue to grow through geographic expansion, product offering diversification, technology innovation and strategic acquisitions,” said Imtiaz Kathawalla, CEO of Norit.
The global activated carbon market is expected to grow at a CAGR of ~9 percent due, in part, to increased regulatory standards around air purification, water treatment, renewable natural gas purification and pharmaceutical drug production.
About One Equity Partners
One Equity Partners (“OEP”) is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm builds market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 300 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt, and Amsterdam. For more information, please visit www.oneequity.com.