White & Case advises Rhône Capital on ASK Chemicals acquisition
Law firm White & Case has advised private equity firm Rhône Capital on the acquisition by its affiliates of ASK Chemicals from Ashland and Clariant.
The transaction is expected to close by the end of the third quarter of 2014 subject to standard conditions, including regulatory approvals.
“We are very pleased to have supported Rhône on this significant acquisition,” says London-based White & Case partner Ian Bagshaw, the firm’s EMEA co-head of private equity who led the team of lawyers which advised on the deal. “The global nature of ASK and the tight execution timetable meant that the deal played to the firm’s strengths as we needed to field a geographically diverse team to support Rhône on both M&A and financing.”
Established in 1996, Rhône focuses on investments in businesses with a pan-European or transatlantic presence and significant growth prospects. Headquartered in New York with offices in London and Paris, it has a diversified portfolio of current investments across a range of sectors including chemicals, consumer products, distribution, food, industrial, materials, mining, retail and shipping.
ASK Chemicals, a joint venture between Ashland and Clariant, is a foundry chemicals manufacturer based in Hilden, Germany, employing 1,800 people in 25 countries worldwide. During the full year 2013 it generated EUR513m in revenue.
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