Private equity firm secures control of Arizona Chemicals
Headquartered in Jacksonville, Florida and in Almere, the Netherlands, the company has more than 1,000 employees and refineries located in six countries on both sides of the Atlantic.
Arizona Chemicals’ line of specialty polymeric gellants provide a wide range of function in personal care formulations and can be as film formers, surfactant free emulsifiers and structuring agents.
The products contain a high percentage of pine tree derived carbon and the company claims they are ideal for the development of aesthetically pleasing, sustainable personal care formulations.
Its range of emollients and liquids are intended to provide a sensory feel and are most widely used in skin/ sun care, make up and deodorant applications.
Well poised for continued growth
In commenting on the transaction, Paul Rossetti, a managing director of American Securities, said, “We are pleased to have closed this investment and to formally begin our partnership with Kees Verhaar and the rest of the Arizona Chemical management team.”
Rossetti believes that the company is well-poised for continued growth and that the acquisition of Arizona Chemicals will aid in building the business, together with its management team.
The full terms of the transaction have not been disclosed but American Securities has said that the management and current investors will continue to own a meaningful equity position.
Kees Verhaar, CEO of Arizona Chemical, said, “American Securities has a strong history of providing the leadership and resources necessary to ensure that the businesses that are part of their portfolio continue to achieve success.”
“We look forward to continuing to grow our business and strengthen our customer relationships with their support,” he added.
