Sale of Arizona Chemical to American Securities LLC is Complete
JACKSONVILLE, FL -- November 22, 2010 – Arizona Chemical announces that Rhône Capital and American Securities have completed the sale of Rhone’s controlling interest in Arizona Chemical to American Securities LLC, a New York-based private equity firm. The deal was announced in September and successfully closed on November 19, 2010.
“We are pleased that the transaction is complete and are eager to continue the global growth of Arizona Chemical under the leadership of American Securities,” explained Kees Verhaar, President & CEO.
American Securities’ portfolio includes General Chemical, MECS, and Fairmount Minerals in the chemical (or related) markets, along with a variety of other successful companies in a wide range of industries.
Rhône Capital will retain 25 percent of the company’s ownership and will continue to participate in its growth and development through pro rata representation on Arizona Chemical’s board of directors.
Arizona Chemical will retain its name and expects there to be no interruption to its operations or customers as a result of this change in ownership.
About Arizona Chemical
Arizona Chemical (www.arizonachemical.com) is the world’s leading biorefiner of pine chemicals for the adhesives, inks and coatings, lubricants, fuel additives, mining and oleochemicals markets. With more than 1,000 employees and state-of-the-art refineries in six countries on both sides of the Atlantic, Arizona Chemical provides sustainable raw materials to hundreds of companies and, in-turn, to millions of consumers all around the world. The company has headquarters offices in the U.S. in Jacksonville, Fla., and in the
EU in Almere, the Netherlands.
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About American Securties
Headquartered in New York with an office in Shanghai, American Securities LLC is a U.S. middle-market private equity firm that invests in market-leading companies in North America with annual revenues generally ranging between $100 million to $1 billion. Investments are funded from more than $6 billion of committed capital. The firm traces its roots to the family office founded in 1947 by William Rosenwald to invest and 2 manage his share of his family’s Sears, Roebuck & Co. fortune. More information on American Securities LLC can be found at www.american-securities.com.
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About Rhône Capital
Rhône was founded in 1996 and has offices in New York, London and Paris. Rhône focuses on middle-market private equity investments in businesses with pan-European or trans-Atlantic presence or growth prospects. Rhône’s investment philosophy includes the development of strong, strategic partnerships with the management of portfolio companies in which it invests. Rhône currently has investments in a diversified portfolio of companies.
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