American Securities LLC, a New York-based middle-market private equity firm, has completed its acquisition of a controlling interest in Arizona Chemical. Management and current investors will continue to own a meaningful equity position.
Headquartered in Jacksonville, FL, and Almere, the Netherlands, Arizona Chemical has more than 1,000 employees and state-of-the-art refineries located in six countries. Equity was provided by American Securities Partners V, L.P., a $2.3 billion private equity partnership.
“American Securities has a strong history of providing the leadership and resources necessary to ensure that the businesses that are part of their portfolio continue to achieve success,” said Kees Verhaar, president and CEO of Arizona Chemical. “We look forward to continuing to grow our business and strengthen our customer relationships with their support.”
“We are pleased to have closed this investment and to formally begin our partnership with Kees Verhaar and the rest of the Arizona Chemical management team,” said Paul Rossetti, a managing director of American Securities. “Arizona Chemical has long been committed to bringing new and environmentally sustainable products to the chemical industry. The company is well-poised for continued growth, and the team at American Securities looks forward to working with Arizona Chemical’s international team to help management build the business.”
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American Securities Completes Arizona Chemical Acquisition
November 23, 2010