Issue Date: June 11, 2007
PQ Sold To Another Private Equity Firm
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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