An international private equity consortium consisting of BroadPeak Global LP, Asia Green Fund, and The Saudi Arabian Industrial Investments Company have signed a definitive agreement for the purchase of DuPont’s Clean Technologies business for $510 million in cash.
As part of the transaction, Tensile Capital Management LP is providing preferred equity financing. The transaction is expected to close in the second quarter of 2021, subject to customary closing conditions and regulatory approvals.
Since first producing sulfuric acid catalyst in 1925, DuPont Clean Technologies has developed catalyst and process technologies to produce and regenerate sulfuric acid, hydroprocessing technology to desulfurize motor fuels, alkylation technology to produce clean gasoline, and advanced air pollution control systems for refineries and chemical facilities.
DuPont Clean Technologies also offers aftermarket services and solutions. The group and DuPont are working together to execute a transition plan.
Eli Ben-Shoshan, global business director of DuPont Clean Technologies and future CEO of the business said, “I’m extremely proud of the global capabilities and deep expertise of the DuPont Clean Technologies team. We believe this transaction will further strengthen our extensive global relationships to best serve our customers around the world, and I look forward to working with the consortium members to accelerate our growth.”
