Looking to add to some bounce to its stock price, AMCOL International Corp. has retained Lehman Brothers to explore strategic alternatives, including a sale of the company or one of its subsidiaries. The September news caught the attention of the Street, as AMCOL’s stock rose 15% before closing on announcement day at $4.63. On September 30 it closed slightly higher at $4.88. Based in Arlington Heights, Ill., AMCOL is a $130 million market-cap manufacturer of specialty mineral products for industrial and consumer-related applications. It also operates a long-haul trucking business. In a statement, AMCOL CEO Larry Washow said that the company may consider a joint venture or spin-off of its Nanocor division, which manufactures molecular-engineered bentonite products for plastic nanocomposites. Paul Shelton, CFO, said that the company was not operating under a particular time frame with regard to exploring its options. He declined to say whether books were sent out or whether the company had received any indications of interest. For the second quarter, the company posted earnings of $4.1 million on revenue of $72 million compared with year-earlier earnings of $700,000 on revenue of approximately $77 million. Ricardo Roberts is a reporter for Mergers & Acquisitions Report, a sister publication to Mergers & Acquisitions magazine.
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