Specialty phosphate maker Innophos Holdings Inc., Cranbury, N.J., today announced that it has entered into a definitive agreement with an affiliate of One Rock Capital Partners LLC, a middle-market private equity firm, whereby One Rock will acquire all of Innophos’ outstanding shares for $32.00 per share in cash in a transaction valued at approximately $932 million, including the assumption of debt. The transaction has been unanimously approved by Innophos’ Board of Directors.
The offer price represents an 18 percent premium to the 30-trading day volume-weighted average closing share price of Innophos’ common stock ended Sept. 9, 2019, the last trading day prior to published market speculation regarding a potential transaction involving the company.