Reuters – Cabot Buys PE-Backed Norit for $1.1B

Specialty chemicals maker Cabot Corp. said it will buy Norit NV, an activated carbon company, for $1.1 billion to strengthen its portfolio, Reuters reported Thursday. Cabot will buy Norit from affiliates of British private equity firm Doughty Hanson & Co. and Euroland Investments BV.

(Reuters) – Specialty chemicals maker Cabot Corp said it will buy Norit NV, an activated carbon company, for $1.1 billion to strengthen its portfolio.

“This acquisition supports the ongoing transformation of our portfolio to a higher margin, less cyclical, specialty chemicals focused company,” Cabot Chief Executive Patrick Prevost said.

Cabot will buy Norit from affiliates of British private equity firm Doughty Hanson & Co Managers Ltd and Euroland Investments BV.