One Equity Partners (OEP) recently finalized its Norit Activated acquisition.
“Norit has been a leading player in the activated carbon space for over 100 years, and we are excited to partner with the Norit team and help drive the company’s growth and development,” said Joe Huffsmith, managing director, OEP, according to a One Equity press release.
The middle-class private equity firm’s diverse catalog of activated carbon products include the "renewable natural gas, food and beverage, chemicals, pharmaceuticals, air quality, water and automotive industries," the release stated.
The company currently manages two plants in North America, five in Europe and three ventures across Canada, Asia and Mexico.
“The senior management team and I are eager to collaborate closely with OEP’s professionals as we continue to grow through geographic expansion, product offering diversification, technology innovation and strategic acquisitions,” said Imtiaz Kathawalla, CEO of Norit.
The global carbon market is projected to grow ~9%. The growth derives from “air purification, water treatment, renewable natural gas purification and pharmaceutical drug production,” the release stated.
Completing more than 300 transactions across the globe since its establishment in 2001, the New York-based firm offers solutions to industrial, health care and technology across North America and Europe. The firm now has offices based in Chicago, Frankfurt and Amsterdam.