Min Partners' Georgia-based global minerals company, KaMin LLC, has finalized the acquisition process for BASF Inc.’s kaolin mineral business, according to a press release.
"This acquisition is transformative for KaMin on day one by further diversifying into highly engineered growth segments and adding to an extensive portfolio of innovative product solutions for everyday life,” president and chief executive officer of KaMin, Mike W. Nelson said. “The combination of these two businesses will create a global leader with significant scale, technical capabilities and talent that will deliver enhanced value to our customers, distributors and brand owners worldwide.”
The deal includes four production sites and related mines, reserves and two processing facilities in Georgia.
The co-located refinery catalysts will be overseen by ASF's refinery catalysts business and will not form part of the divestiture.
Grace Matthews contributed to the transaction as financial advisor, while Kelly Hart & Hallman served as legal advisors. All financing aspects of the deal were led by PNC on KaMin’s behalf.
"We are excited to welcome approximately 440 new employees to the KaMin team,” Nelson said. “Their expertise will enhance our already strong organization and further differentiate us in the industrial minerals sector."