Ardian takes Angus Chemical stake

US private equity giant Ardian has acquired a 50% stake in Angus Chemical from Golden Gate Capital at a total enterprise value of about $2.25 billion. Golden Gate, which bought the firm from Dow Chemical in February 2015, will retain the other. The deal should close at the end of the year.

Dating back to 1935 and based at a site in Buffalo Grove, Illinois (pictured) Angus is the world’s only company dedicated to nitroalkanes and their derivatives. It supplies additives and intermediates, which are used in a wide range of applications in life sciences, personal care and general industrial markets.

Golden Gate claims that, under its ownership, Angus has seen “exceptional growth and strengthened its global business through significant investments in the company’s life sciences and personal care business segments, including major capacity expansions and the build-out of innovation and sales capabilities”.

Thibault Basquin, head of Americas Investments at Ardian Buyout, pledged to accelerate Angus’ growth and “support the company in the implementation of a global buy-and build strategy, similar to our approach with other successful investments”. CEO David Neuberger and the senior management team will remain in place.