The deal, sharing ownership with existing investor CVC, values company at roughly $4.2 billion.
First Reserve and Kayne Anderson team up for a stake worth up to $100 million.
Sale to Irving Place represents just under a 4x cash on cash return for the seller.
The sale, initially reported last week, produced a 65% IRR for the seller.
With consolidation ramping up, the $381 million deal represents the small-market play for 'cash-constrained juniors' in the mining space.
Strategic buyers are looking to get ahead of commodity and raw materials volatility by pursuing 'backward verticals.'
Diversity is making a comeback, but dealmakers are following a recipe.
Politicians write the checks in the defense space, and they're not afraid to hold that over people's heads.
Investors have long since recognized the need, but the stimulus package finally gives the government the tool to follow through.
Just about everything, but even in a perfect world, Cerberus bit off more than it could chew.