A private equity consortium comprising New York-based BroadPeak Global LP, China-based Asia Green Fund (AGF) and The Saudi Arabian Industrial Investments Company (Dussur) announced on Monday that it has signed a definitive agreement to buy the Clean Technologies business of US-listed chemicals firm DuPont de Nemours for $510 million in cash.
As part of the transaction, San Francisco-based investment firm 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, according to a statement.
“DuPont Clean Technologies is a leader in the sulfuric acid, alkylation and scrubbing sectors, with world-class products and aftermarket services. We intend to build on this strong foundation and expand the business with the support of management and our strategic partners.” BroadPeak Global co-founder and managing partner Nadim Qureshi said.
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