Chemtrade closes on General Chemical purchase

Toronto — Chemtrade Logistics Income Fund said on Jan. 23 that it has completed its previously-announced acquisition of Parsippany, New Jersey-based General Chemical Holding Co. (GM Dec. 9, 2013, p. 11). The final total cash purchase price is expected to be approximately US$900 million after a working capital adjustment and payment of post-closing taxes. “This is a historic event for Chemtrade. The acquisition of General Chemical adds significant size, scale, and scope to Chemtrade’s existing product and service platform,” said Chemtrade President and CEO Mark Davis. “General Chemical has strong portfolio alignment with our current business, enhancing our existing sulfuric acid geographic footprint and greatly expanding our water treatment business so it now extends across most of North America. The acquisition of General Chemical also moves Chemtrade into new but related product categories and end markets, and positions Chemtrade to capitalize on new growth opportunities.”