Almatis To Be Acquired By Investcorp
September 12, 2005
Investcorp, a global investment group, plans to acquire the Almatis Group from Rhone Capital and Ontario Teachers' Capital; the transaction is expected to close in October 2005. "We are very excited about the new partnership with Investcorp," said Oscar Groomes, chief executive officer of Almatis. "They have demonstrated a strong understanding of our business and markets. With their resources and global experience, we will be able to continue investing strongly in the specialty alumina markets and making further improvements in our global sales and production network." Almatis has also divested its Adsorbents & Catalyst business unit to Engelhard Corp. According to the company, its acquisition by Investcorp and the decision to divest the Adsorbents & Catalyst business unit emphasize its strategy to focus and invest in its core businesses.