Ardian reported that it has acquired a 50% stake in ANGUS Chemical Company from Golden Gate Capital at a value of USD 2.25 Billion. Golden Gate Capital initially acquired ANGUS in February 2015 from The Dow Chemical Company and will retain a 50% stake in ANGUS. ANGUS is the world’s only company that is dedicate to manufacture and distribute nitroalkanes and its derivatives. The company helps customers deliver enhanced product and process performance on a wide range of applications in personal care, life sciences and high growth industrial markets.
Within the last five years Golden Gate Capital has grown and repositioned itself to focus on premium consumer applications. Ardian and Golden Gate Capital plans to partner with ANGUS President and CEO David Neuberger with the company’s senior management team to grow the business, not limited to but including investments in core markets.
Thibault Basquin, Head of Americas Investments at Ardian Buyout stated, “Management and Golden Gate Capital have built an impressive Company and we are delighted to partner with them on this next phase of growth. ANGUS plays a critical role in the life sciences and personal care value chains, and its products have supported dozens of essential businesses over the last few months. With Ardian’s global reach and together with Golden Gate Capital, we plan to accelerate the Company’s growth and provide ANGUS’ customers with a compelling range of products. We have deep expertise and an extensive network in the sectors served by ANGUS, and we intend to support the Company in the implementation of a global buy & build strategy, similar to our approach with other successful investments.”
Dave Thomas, a Managing Director at Golden Gate Capital, said, “We have enjoyed a highly successful partnership with David Neuberger and the entire ANGUS team over the past five years. Since our initial investment, ANGUS has driven exceptional growth and strengthened its global business through significant investments in the Company’s life sciences and personal care business segments, including major capacity expansions and the buildout of innovation and sales capabilities. These investments have enabled ANGUS’ transformation into a high-growth organization. With this strong foundation in place, we look forward to supporting ANGUS’ continued growth alongside Ardian.”
David Neuberger, President of ANGUS, said, “Ardian’s interest in ANGUS is a testament to our resilience, consistent growth, talented team and the extraordinary value of our current product portfolio and R&D pipeline. Likewise, Golden Gate Capital’s continued ownership in ANGUS is a testament to their belief in our future prospects. Over the course of our five-year relationship, we established ANGUS as an independent company; transformed our business into a stable, consumer-focused organization; increased our capacity for key chemistries like TRIS AMINO™ tromethamine; and enabled our customers’ own growth plans. The management team is excited to have the combined support of Ardian and Golden Gate Capital. We are confident that they share our strategic vision as we accelerate the growth of our innovative, high-demand chemistries.”
Christopher Sand, Director at Ardian Buyout added, “Over the last five years, ANGUS has prospered. ANGUS’ highly-regarded management team, unique product set, resilience, and growth prospects – both organic and via acquisition – makes it an ideal investment for Ardian, and we look forward to partnering with Golden Gate Capital.”
The transaction is expected to close by end of 2020.