Cerberus and Koch to Acquire PQ Performance Chemicals
Summary
“ We are excited to partner with Koch, a strategic leader with invaluable insights, to invest in this industry-leading business,” said Dev Kapadia, Senior Managing Director at Cerberus. We are eager to invest and execute on management’s growth plans, leveraging the complementary capabilities of the partnership.” Al Beninati, President of PQ Performance Chemicals, commented, “ This milestone is a testament to the strength of our business, talent of our team, and our bright future ahead. With their partnership, we will be well-positioned to invest in our business, drive product development, and build on our customer relationships as we embark on this new chapter.” The transaction, which is subject to regulatory approvals and customary closing conditions, is expected to be completed in 2021. Founded in 1992, Cerberus is a global leader in alternative investing with over $50 billion in assets across complementary credit, private equity, and real estate strategies. It owns a diverse group of companies involved in refining, chemicals, and biofuels; forest and consumer products; fertilizers; polymers and fibers; process and pollution control systems; electronics, software and data analytics; minerals; glass; automotive components; ranching; commodity trading; and investments.