Advertisement

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Business

Mallinckrodt Baker Goes To Private Equity Buyer

by Marc S. Reisch
May 31, 2010 | A version of this story appeared in Volume 88, Issue 22

Private equity firm New Mountain Capital has signed a definitive agreement to buy laboratory chemicals supplier Mallinckrodt Baker from Covidien for $280 million in cash. Raj Gupta, former CEO of Rohm and Haas, will become chairman of the Phillipsburg, N.J.-based operation, which in 2009 sold $414 million worth of high-purity chemicals to R&D labs and manufacturers of pharmaceuticals, semiconductors, solar cells, and flat-panel displays. The transaction is expected to close by the end of September. Covidien, a maker of medical supplies, medical devices, and pharmaceuticals, will retain its active pharmaceutical ingredients business, which it claims is the world’s largest maker of acetaminophen and a large medicinal narcotics manufacturer. Gupta joined New York City-based New Mountain as a senior adviser last July and has been involved in the 10‑year-old private equity player’s first foray into the specialty chemical arena. The plan, Gupta tells C&EN, is to grow the Mallinckrodt business both organically and through acquisitions. The high-purity chemicals business is “very fragmented,” he notes. Mallinckrodt has manufacturing facilities in Phillipsburg and Deventer, the Netherlands. It also has access to capacity at a Covidien plant in Mexico City.

Article:

This article has been sent to the following recipient:

0 /1 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.