Chemtrade Logistics Income Fund is acquiring General Chemical Holding Co., a manufacturer of inorganic chemical products, for US$860 million.
Chemtrade, a supplier of industrial chemicals and services based in Toronto, called the acquisition and merger of the Parsippany, NJ-based company a “historic event.”
“The acquisition of General Chemical adds significant size, scale and scope to Chemtrade’s existing product and service platform,” said Mark Davis, Chemtrade’s president and CEO, in a statement. “General Chemical has strong portfolio alignment with our current business, enhancing our existing sulphuric acid geographic footprint and greatly expanding our water treatment business so it now extends across most of North America. The acquisition…also moves Chemtrade into new but related product categories.”
General Chemical, a North American manufacturer of a broad portfolio of inorganic chemical products, has three business units: Specialty Chemicals, Water Treatment Chemicals, and Sulphuric Acid. They operate 45 facilities across Canada and the U.S., employing 540 people.
The company serves a variety of end markets, including general industrial production, food and beverage, and pharmaceuticals.
The merged company is forecast to generate revenue of US$1.3 billion, Chemtrade said.