One Equity Partners, a middle market private equity firm, has acquired Norit Activated Carbon, a global manufacturer of activated carbon for purification services, from Cabot Corp.
Norit is a manufacturer of a spectrum of activated carbon products used for purification needs in sectors including natural gas, food & beverage, chemicals, air and water quality, and more. The firm operates two plants in North America, five facilities in Europe and an additional three joint ventures across Canada, Asia and Mexico.
“We are proud to make this investment in Norit, whose product offering uses renewable materials to increase access to clean air and water,” said Joe Huffsmith, managing director, OEP. “Norit has been a leading player in the activated carbon space for over 100 years, and we feel fortunate for the opportunity to partner with the Norit team on this next phase of the company’s growth and development.”
Latham & Watkins, LLP served as legal counsel to OEP and KPMG LLP served as accounting and tax advisor. PNC Bank NA is providing debt financing for the transaction.