Golden Gate Capital announced that ArrMaz, a leader in specialty chemicals, has entered into a definitive agreement to be acquired by Arkema Group for approximately $570 million. Arkema is a global manufacturer of specialty chemicals and advanced materials used across a range of industries. ArrMaz Chief Executive Officer Dave Keselica will continue to lead ArrMaz after the transaction is completed.
ArrMaz is a trusted partner to the mining, crop nutrients, asphalt paving, and other growing industries worldwide, providing chemical process aids and additives formulated to improve their customers’ products and processes. For more than 50 years, ArrMaz has delivered customized chemical solutions, engineered application systems, expert technical and customer support, and superior responsiveness.
“We are excited to join forces with Arkema after a successful long-term partnership with Golden Gate Capital,” Keselica said. “Under their ownership, we expanded and improved the technical performance of our core product suite, entered attractive new markets such as lithium flotation and proppant dust control, and expanded our research and development capabilities and facilities worldwide. We look forward to continuing to provide our customers with the highest quality chemical solutions and unrivaled end-to-end support as we enter this next chapter of our growth.”
During the last six years, ArrMaz significantly expanded its global footprint, particularly in the Middle East and Africa, through acquisitions and new plant openings, while accelerating innovation across their markets, Managing Director at Golden State Capital Dave Thomas said.
The transaction is expected to close in summer 2019, subject to customary closing conditions.