KMG Chemicals To Buy Flowchem For $495 Mln In Cash

(RTTNews) - KMG Chemicals Inc. (KMG) said that it will acquire Flowchem for a purchase price of $495 million in cash, including working capital of about $17 million, from Arsenal Capital Partners. The acquisition and associated transaction expenses will be funded with committed financing provided jointly by KeyBank National Association, HSBC Bank USA, N.A. and HSBC Securities (USA) Inc.

The acquisition is subject to customary closing conditions, including approval pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with closing anticipated to occur mid-June 2017.