Printer Friendly

Kissner Group to Acquire US Salt to Expand Customer Base in Increased End-User Markets.

M2 EQUITYBITES-November 1, 2017-Kissner Group to Acquire US Salt to Expand Customer Base in Increased End-User Markets

(C)2017 M2 COMMUNICATIONS http://www.m2.com

1 November 2017 - Kansas, US-based Kissner Group Holdings LP, the parent company of bulk salt and specialty packaged salt producer, Kissner, has agreed to acquire the evaporated salt business US Salt LLC, the company said.

Terms of the transaction were not disclosed. The transaction is expected to be completed by the end of 2017.

Kissner Group Holdings LP said US Salt's position in providing evaporated salt to the consumer food, food processing, water conditioning, pharmaceutical, industrial and agricultural end-use markets, diversifies Kissner's product offering while expanding our ability to meet the needs of our customers.

With US Salt, the company will have increased financial scale and flexibility with non-weather correlated and non-seasonal cash flow to supplement our existing de-icing business.

Upon completion of the transaction, US Salt will continue to operate under its existing name as a subsidiary of Kissner. US Salt's salt refinery in Watkins Glen, New York, will remain fully operational.

US Salt utilises solution mining to create salt brine from underground deposits lying 2,000 to 2,800 feet beneath the surface.

The brine is mechanically evaporated to create evaporated salt, which is nearly 100% pure sodium chloride.

US Salt's customers include retailers, distributors and end-users in the consumer food, food processing, water conditioning, pharmaceutical, industrial and agricultural industries.

Kissner Group Holdings LP is the parent company of Kissner and is owned by private equity firm Metalmark Capital Holdings LLC and Silvertree-KMC II LP, a venture between Silverhawk Capital Partners and Demetree Salt, LLC, and the Kissner management team.

Kissner is a vertically integrated bulk salt and specialty packaged salt producer focussed on governmental and commercial customers in the Great Lakes, Great Plains and Midwest, US regions. Kissner owns and operates two rock salt mines located in Michigan and Kansas.

Metalmark Capital focusses its investment activity in growth industrials, natural resources, agribusiness and healthcare. Metalmark Capital manages funds with USD 3.7bn in aggregate capital commitments.

Silvertree-KMC II LP is a special purpose vehicle, led by Silverhawk Capital Partners and Demetree Salt, LLC.

Silverhawk Capital Partners is an independent investment group. The partners of Silverhawk have invested as a team and operated businesses since 1989, and have successfully deployed more than USD 1.3bn of capital at high rates of return.

((Comments on this story may be sent to info@m2.com))

COPYRIGHT 2017 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2017 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 EquityBites (EQB)
Date:Nov 1, 2017
Words:410
Previous Article:Ingersoll Rand to Acquire GPSi Holdings to Expand Digital Connectivity Offerings.
Next Article:Francisco Partners Acquires Certificate Authority Business of Comodo.
Topics:

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters