November 19, 2010
American Securities Completes Acquisition of Arizona Chemical
American Securities LLC, a New York-based middle-market private equity firm, today announces it has completed its acquisition of a controlling interest in Arizona Chemical, the world’s leading biorefiner of pine chemicals used in a broad range of end-market applications. Management and current investors will continue to own a meaningful equity position. Headquartered in Jacksonville, Fla., and in Almere, the Netherlands, Arizona Chemical has more than 1,000 employees and state-of-the-art refineries located in six countries on both sides of the Atlantic. Terms of the transaction have not been disclosed. Equity was provided by American Securities Partners V, L.P., a $2.3 billion private equity partnership.
Established in 1930, Arizona Chemical has been dedicated to transforming pine chemicals from pulp and paper into high-value end products. The company refines pine chemicals, crude tall oil and crude sulphate turpentine into high value end-products. Arizona Chemical’s raw materials are environmentally-friendly starting points for manufacturing everyday products for adhesives, printing inks, tires, roadmarkings, decorative paints, personal care and many other markets.
In commenting on the transaction, Paul Rossetti, a managing director of American Securities, said, “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. 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.”
Kees Verhaar, President & CEO of Arizona Chemical, said, “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. We look forward to continuing to grow our business and strengthen our customer relationships with their support.”