JACKSONVILLE, FL – 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 and CEO.
American Securities’ portfolio includes General Chemical, MECS and Fairmount Minerals in the chemical (or related) markets, along with a variety of other 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.