American Securities Completes Its Acquisition of GenTek, Inc.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- American Securities LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a New York-based private equity firm, today announces that it has completed its acquisition of GenTek, Inc., a Parsippany, New Jersey-based provider of specialty inorganic chemical products and valve actuation ac·tu·ate tr.v. ac·tu·at·ed, ac·tu·at·ing, ac·tu·ates 1. To put into motion or action; activate: electrical relays that actuate the elevator's movements. 2. systems and components for automotive and heavy duty/commercial engines. Equity was provided by American Securities Partners V, L.P., a $2.3 billion private equity partnership. GenTek operates through two business segments: performance chemicals and valve actuation systems. The performance chemicals segment provides: (1) water treatment products, primarily used by municipalities, (2) various grades of sulfuric acid sulfuric acid, chemical compound, H2SO4, colorless, odorless, extremely corrosive, oily liquid. It is sometimes called oil of vitriol. Concentrated Sulfuric Acid as well as sulfuric acid regeneration services for the refining and chemical industries, (3) ingredients used in prescription pharmaceuticals, nutritional supplements Nutritional Supplements Definition Nutritional supplements include vitamins, minerals, herbs, meal supplements, sports nutrition products, natural food supplements, and other related products used to boost the nutritional content of the diet. and veterinary health products, and (4) high purity electronic chemicals. The valve actuation segment provides performance-critical valve train Valve train The valves and valve-operating mechanism by which an internal combustion engine takes air or fuel-air mixture into the cylinders and discharges combustion products to the exhaust. components for a full range of gas and diesel engines. GenTek operates over 50 manufacturing facilities and technical centers and has approximately 1,100 employees. In commenting on the transaction, Matthew F. LeBaron, a managing director of American Securities, said, "We are delighted to have closed this investment and to begin our partnership with GenTek's management team. GenTek's specialty chemicals A Specialty chemical is a chemical produced for a specialized use. They are produced in lower volume than bulk chemicals, of which petrochemicals, made from oil feedstocks, are the most common. However, both are produced in a chemical plant. business has a leading position in the markets it serves, and its automotive valve business is well-positioned to grow. We are looking forward to working with GenTek's management team to continue to build the business." William E. Redmond, Jr., GenTek's Chief Executive Officer, said, "We are pleased to have completed this transaction with American Securities and look forward to the next stage of GenTek's development. We are excited to continue to grow and improve our company with American Securities' support." About American Securities Headquartered in New York with an office in Shanghai, American Securities LLC is a U.S. middle-market private equity firm that invests in market-leading companies in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. with annual revenues generally ranging between $100 million to $1 billion. Investments are funded from more than $6 billion of committed capital. The firm traces its roots to the family office founded in 1947 by William Rosenwald to invest and manage his share of his family's Sears, Roebuck & Co. fortune. More information on American Securities LLC can be found at www.american-securities.com. |
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