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Business
Private Equity firm To Buy GenTek
by Alexander H. Tullo
October 5, 2009
| A version of this story appeared in
Volume 87, Issue 40
The private equity firm American Securities is buying GenTek in a deal valued at $673 million. About 80% of GenTek’s 2008 sales of $608 million came from its General Chemical segment, which makes inorganic chemicals such as aluminum sulfate for the water treatment industry and sulfuric acid. American Securities is paying $411 million for GenTek’s equity, which represents a 40% premium over the price at which the shares were trading on the eve of the deal. American Securities will also assume about $262 million in GenTek’s debt and other liabilities.
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