Houghton does not anticipate any immediate changes in its facilities, employment or range of product and service offerings, and all of the members of senior management are expected to continue on with the company. After the merger, the business will continue to be conducted under the Houghton International name.
"We are pleased to announce that our shareholders will be able to realize significant value for their Houghton shares, while at the same time, Houghton will be able to continue uninterrupted in its long history of innovation in serving our customers around the world," said William F. MacDonald Jr., president of Houghton International. "Through the proposed partnership with AEA Investors LLC, we expect to enjoy greater access to capital, which will enable us to provide our customers with customized metalworking fluids and chemical management services."
"The entire team at AEA is excited to partner with the management team of Houghton International to continue the growth and expansion of this long-standing industry leader," said Brian Hoesterey, a partner at AEA. "We plan to support Houghton through our experience in the chemical industry, global footprint, operating resources and access to capital. We seek to help management drive both organic and acquisition-based growth, leveraging Houghton’s strong positions in its key markets."
Most Popular Articles
From the Career Center
Jobs that may interest you