MIAMI, US: HIG Capital (HIG), a leading global private equity investment firm said that one of its affiliates has entered into a definitive agreement to sell its portfolio company, Cornerstone Chemical Company (Cornerstone), to an affiliate of Littlejohn & Co LLC (Littlejohn), a leading private investment firm. The transaction is expected to close in August 2017.
Strategically located on the Mississippi River, Cornerstone is a leading manufacturer of high-quality intermediate chemicals, including acrylonitrile, melamine, sulfuric acid, and other chemical products.
Cornerstone’s products are used in a wide variety of major end markets including fracking, building products, transportation, and other downstream chemicals with revenues exceeding $500M per year.
Since its carve-out from Cytec Industries in 2011, Cornerstone has focused on leveraging its North America petrochemical advantage to grow its global customer base and expand its product offering. In addition, Cornerstone successfully commissioned an $850 million ammonia plant together with an onsite partner in 2016.
MIAMI, US: HIG Capital (HIG), a leading global private equity investment firm said that one of its affiliates has entered into a definitive agreement to sell its portfolio company, Cornerstone Chemical Company (Cornerstone), to an affiliate of Littlejohn & Co LLC (Littlejohn), a leading private investment firm. The transaction is expected to close in August 2017.
Strategically located on the Mississippi River, Cornerstone is a leading manufacturer of high-quality intermediate chemicals, including acrylonitrile, melamine, sulfuric acid, and other chemical products.
Cornerstone’s products are used in a wide variety of major end markets including fracking, building products, transportation, and other downstream chemicals with revenues exceeding $500M per year.
Since its carve-out from Cytec Industries in 2011, Cornerstone has focused on leveraging its North America petrochemical advantage to grow its global customer base and expand its product offering. In addition, Cornerstone successfully commissioned an $850 million ammonia plant together with an onsite partner in 2016.
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