Volume 85 Issue 24 | p. 17 | Concentrates
Issue Date: June 11, 2007

PQ Sold To Another Private Equity Firm

Department: Business

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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