Private equity firm American Securities LLC has partnered with management to purchase specialty chemical maker Emerald Performance Materials LLC from an affiliate of Sun Capital Partners Inc.
The transaction is expected to close in the third quarter of 2014; financial terms of the transaction have not been disclosed.
Cuyahoga Falls, Ohio-based Emerald Performance Materials produces and markets specialty chemicals for niche consumer and industrial end-markets, which include flavors and fragrances, food and beverage, personal and household care, composites, structural adhesives, coatings, and flooring.
Emerald has four business groups, eight manufacturing operations and approximately 750 employees.
In a news release, Scott Wolff, managing director of American Securities, said Emerald “offers attractive growth opportunities, defensible market positions and a diverse portfolio of high-quality businesses.”