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WASHINGTON, DC, December 4, 2013 — Covington & Burling advised Chemtrade Logistics Income Fund in its $860 million acquisition of General Chemical Holding Company. The acquisition will expand Chemtrade’s North American water treatment chemicals and sulfuric acid businesses into new geographic areas and broaden the company’s specialty chemicals product portfolio. Osler, Hoskin & Harcourt LLP handled the corporate work and other areas of the deal; Covington advised on the regulatory aspects of the transaction.
Under the terms of the transaction, Chemtrade will acquire all of the outstanding shares of ASP GT Holding Corp., General Chemical's parent company, from certain funds controlled by American Securities LLC, a private equity firm.
Chemtrade, based in Canada, is one of North America’s largest suppliers of sulfuric acid, liquid sulfur dioxide and sodium hydrosulfite, a leading processor of spent acid, and a leading regional supplier of sulfur, sodium chlorate, phosphorous pentasulfide, zinc oxide, and water treatment chemicals. New Jersey-based General Chemical is a North American manufacturer of a broad portfolio of inorganic chemical products.
The Covington team was led by James O’Connell (antitrust) and included Donald Elliott (environmental), David Grace (international trade), Heather Haberl (real estate), and Lee Tiedrich (IP).