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ACG New York Women of Leadership - Entrepreneur Series
Barbara Bradley Baekgaard, founder of Vera Bradley (Nasdaq: VRA), is the latest in a series of entrepreneurs highlighted at ACG New York Women of Leadership events. Photo credit: Robert Blumenfeld

Watercooler

GTCR, Hormel, the Riverside Co-CEOs and Others Win M&A Mid-Market Awards
Amid a slow and challenging year for dealmaking, the winners of Mergers & Acquisitions’ 7th Annual M&A Mid-Market Awards outpaced the competition to grow, innovate and lead the middle market

Roundtable

Financial Services Companies Heat Up M&A Market
Speakers from Flexpoint Ford, Genstar Capital, Baird Capital, Madison Capital Funding and Katten Muchin Rosenman discuss the various factors playing a role in M&A activity within the financial services space

Expert's Corner

Pursuing Pharma Manufacturing
The fragmented pharmaceutical manufacturing industry provides plenty of opportunities for private equity investors, says JLL Partners founder Paul Levy

KMG Chemicals Buys OM Group Chemicals Unit for $60M

The target and acquirer both make chemicals used by electronics manufacturers

KMG Chemicals Inc. (NYSE: KMG) is acquiring the ultra-pure chemicals subsidiaries of OM Group (NYSE: OMG) for about $60 million in cash.

The pure chemicals group includes four facilities in Europe, two in Asia and one in North American. The North American facility sells products, mainly chemicals for electronics manufacturers, in the Cyantek brand name. The chemicals are used for cleaning, etching, stripping and other needs of semiconductor makers.

KMG produces and distributes chemicals for electronics manufacturers and wood-treating chemicals.

Houston-based KMG says the deal advances its strategy to get into the global high-purity process chemicals market. The company is funding the deal with available cash and borrowings under its revolving credit facility.

KMG amended its credit facility with Wells Fargo Bank and Bank of America from $60 million to $110 million. The accordion feature of the facility was also expanded to $135 million with approval from the banks.

OM Group develops magnetic technology, battery technology and specialty chemicals for the automotive systems, electronic devices, aerospace, industrial and renewable energy markets. 

 

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