H.I.G. Acquires Cytec Division
March 1, 2011- Share:
H.I.G. Capital has completed its $180 million acquisition of the Building Block Chemicals division of Cytec Industries (NYSE: CYT). The purchase price consisted of $165 million in cash at closing and a $15 million note. The business manufactures melamine, acrylonitrile and sulfuric acid and will be renamed Cornerstone Chemical Company. Cytec was advised by The Valence Group on the deal.
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