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Business

PQ Sold To Another Private Equity Firm

June 11, 2007 | A version of this story appeared in Volume 85, Issue 24

J.P. Morgan Partners, the private equity division of bankers JPMorgan Chase, has sold PQ Corp. to another private equity firm, the Carlyle Group, in a transaction valued at $1.5 billion. Morgan Partners acquired family-owned PQ in February 2005 for $632.5 million. PQ has annual sales of $700 million a year and makes sodium silicates, zeolites, and hollow glass beads. Subject to regulatory approvals, Carlyle expects to close on the deal by the end of September.

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