BASF Selling Inorganic Specialties Business to Edgewater

November 22, 2016

2 Min Read
BASF Selling Inorganic Specialties Business to Edgewater
Production of high-purity chemicals at a BASF facility. Image courtesy of BASF SE

BASF has agreed to sell its Inorganic Specialties business to Cleveland, OH-based private equity firm Edgewater Capital Partners LP for an undisclosed sum, the German chemical company announced Nov. 18.

Included in the transaction are BASF’s Evans City, PA production site and the specialty alcoholates, boranes, and alkali metals product lines made at the site. The German company said it expects the transaction, which must be approved by regulators, to close by the first quarter of 2017.

“BASF will continue to meet all its obligations to customers, suppliers, and employees through the transition of the business to Edgewater,” said senior vice president of BASF’s Intermediates business in North America, Heidi Alderman, in a statement.

The company said about 80 employees will remain on at the Evans City facility as Edgewater employees.

“We are appreciative of the Inorganics Specialties business and the employees in Evans City, who have operated a safe and efficient manufacturing plant for 80 years,” said Alderman’s statement. “Their dedication and commitment to marketing and producing quality products is commendable and we thank them for their contributions to BASF’s success.”

Robert Girton, principal at Edgewater Capital said his company was excited to take on the Inorganic Specialties unit.

“The business’ broad portfolio of products critical to chemical synthesis, depth, and tradition in research and development, strong commitment to environmental, health, and safety systems, and the unique capabilities of the site make it a global leader in reagent technology,” said Girton in a statement. “We are eager to build on this platform and in partnering with the significant expertise of the Inorganic Specialties team.”

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