New York private equity firm American Securities is working with outside PR counsel on its $860M sale of General Chemical to Canada's Chemtrade Logistics.
Prosek Partners senior VP Caroline Harris-Gibson represents the PE firm, which traces its roots to a 1947 investment and management of part of the Sears, Roebuck & Co fortune.
American put Parsippany, N.J.-based General Chemical on the block earlier this year with media reports expecting a deal around $1B. It acquired GC in 2009 and took it private in a $673M deal.
GC makes chemicals used in water treatment, agriculture, pharmaceutical production and pulp and paper, among other sectors, via 45 facilities in the U.S. in Canada.
Chemtrade said it will pay the purchase price in cash, calling the move an "historic event" for the company to boost its size, scale and scope.
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