ICL sell PCG businesses One Rock Capital Partners

ICL to sell PCG businesses to One Rock Capital Partners

11:14 AM, 26th May 2015
ICL to sell PCG businesses to One Rock Capital Partners

TEL AVIV, ISRAEL: Israel Chemicals Ltd said that the performance products segment will sell it’s Germany-based pharmaceutical, cosmetics and gypsum (PCG) businesses to an affiliate of One Rock Capital Partners, a New York based private equity firm active in the chemicals industry. The share and asset purchase agreement is expected to close in the near term, it said.

ICL’s PCG business units are engaged in the production of active ingredients for antacids and antiperspirants, as well as products for dental applications. The sale of the PCG business units is part of ICL’s strategy to focus on its core businesses in the agriculture, food and engineered materials markets and to optimize its positioning in those markets, it said.

One Rock’s purchase of the PCG businesses is in line with its investment strategy and will provide One Rock with an opportunity to expand its activities in the global chemicals industry, ICL said.

“ICL performance products intends to use the proceeds from the sale to strengthen our core businesses in the food and engineered materials markets, and to expand our global presence, especially in emerging markets,” said Mark Volmer, president and CEO, ICL performance products segment.

“We plan to strengthen the business even further and will work in earnest to continue to provide PCG’s customers with the best products and services globally,” said Tony Lee, managing partner, One Rock. 

© Worldofchemicals News

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