Ondeo Nalco acquired for $4.2 billion
4 Sep 2003
A consortium of private equity firms comprised of The Blackstone Group, Apollo Management and Goldman Sachs Capital Partners has signed a definitive agreement to acquire Ondeo Nalco from Suez in a transaction valued at $4.2 billion.
Nalco is the world leader in providing water treatment and process chemicals and services to companies in the general industrial, institutional, pulp and paper, and energy sectors.
With over 10,000 employees and operations in 130 countries, the company generated revenues of over $2.6 billion in 2002 and is based in Naperville, IL.
The transaction will be funded with approximately $3.2 billion of senior and subordinated debt financing and the remainder in equity provided by the consortium, and is expected to close in the fourth quarter of 2003, subject to customary regulatory approvals.
Following the transaction, Nalco will operate as an independent company.
