One Equity Partners Completes Acquisition of Norit Activated Carbon

Rhea-AI Summary

One Equity Partners has acquired Norit Activated Carbon from Cabot Corporation (NYSE: CBT). Norit, a leader in activated carbon solutions for over 100 years, has a diverse product portfolio catering to sectors like renewable energy, pharmaceuticals, and air quality. The acquisition aims to drive growth through geographic expansion and product diversification. The global activated carbon market is projected to grow at a CAGR of approximately 9%, fueled by rising regulatory standards in purification technologies.

Positive

• Acquisition of Norit enhances OEP's portfolio in a growing market.
• Norit's expertise and existing infrastructure support geographic expansion.
• Projected 9% CAGR in the activated carbon market presents growth opportunities.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- One Equity Partners (“OEP”), a middle market private equity firm, today announced that it has completed the acquisition of Norit Activated Carbon (“Norit” or “the Company”), a global manufacturer of activated carbon for purification solutions, from corporate parent Cabot Corporation (NYSE: CBT).

“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.

Norit manufactures a broad portfolio of activated carbon products used for purification needs in growing sectors including renewable natural gas, food and beverage, chemicals, pharmaceuticals, air quality, water, and automotive. The Company operates two plants in North America, five facilities in Europe and participates in three joint ventures in 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 activated carbon market is expected to grow at a CAGR of ~9 percent due, in part, to increased regulatory standards around air purification, water treatment, renewable natural gas purification and pharmaceutical drug production.

About One Equity Partners

One Equity Partners (“OEP”) is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm builds market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 300 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt, and Amsterdam. For more information, please visit www.oneequity.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220302006084/en/

For One Equity Partners:

Tom Faust

Stanton

646-502-3513

TFaust@StantonPRM.com

Source: One Equity Partners

FAQ

What is the significance of One Equity Partners acquiring Norit Activated Carbon?

The acquisition allows One Equity Partners to enhance its portfolio in the growing activated carbon market, which is projected to expand significantly.

What sectors does Norit Activated Carbon serve?

Norit supplies activated carbon products across various sectors, including renewable natural gas, food and beverage, pharmaceuticals, air quality, and water treatment.

What is the expected growth rate of the activated carbon market?

The global activated carbon market is expected to grow at a CAGR of approximately 9% due to increased regulatory standards.

How will the acquisition affect Norit's operations?

Norit aims to collaborate closely with OEP to enhance growth through geographic expansion, product diversification, and technological innovation.

What is the relationship between Norit and Cabot Corporation?

Norit Activated Carbon was previously a subsidiary of Cabot Corporation, which has now been acquired by One Equity Partners.