Cabot $1.1 billion purchase of activated carbon company Norit

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Cabot Corporation, a US manufacturer of specialty chemicals and materials, announced the signing of an agreement on June 21st, from Doughty Hanson & Co Managers Ltd and Euroland Investments BV. Acquired Norit NV, a Dutch activated carbon manufacturer, for an acquisition of US$1.1 billion.

Cabot plans to use about 200 million U.S. dollars in cash and 300 million U.S. dollars in loans to pay for the deal, and plans to issue long-term bonds to raise another 600 million U.S. dollars. With the approval of regulatory agencies in the United States, Germany, and the Netherlands, the deal is expected to be completed by the end of this year. JP Morgan served as financial advisor to this transaction.

Norit provides activated carbon and related services to produce more than 150 different types of activated carbon products. It operates 10 plants in the Americas and Europe, with revenue of approximately US$360 million in 2011. In 2007, it was acquired by an investment consortium headed by Doughty Hanson.

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