MUMBAI, India (Jan. 31, 2011)-Aditya Birla Group has entered into a definitive agreement to acquire carbon black maker Columbian Chemicals Co., from One Equity Partners.
Aditya Birla is buying the Marietta, Ga.-based business through its associates, Alexandria Carbon Black Co.and Thai Carbon Black Co. Ltd. along with SKI Investment, an Aditya Birla company, the firm said.
The acquisition is subject to customary approvals. The deal is expected to attain closure in the second half of the year, Aditya Birla said.
“Our vision has been to be a premium carbon black player, global in size and reach. The acquisition of Columbian Chemicals, which takes us closer to our vision, is a perfect fit for Birla Carbon. Their assets and the expertise of the team will provide a stronger platform for higher growth and ongoing success," said Kumar Mangalam Birla, chairman of Aditya Birla Group
One Equity Partners is the merchant banking arm of J. P. Morgan Chase & Co.