KaMin to Acquire BASF Kaolin Minerals Business
Friday, November 19th, 2021
KaMin LLC, a global performance minerals company owned by IMin Partners, and BASF announced today that they have entered into a definitive agreement in which KaMin will acquire the BASF kaolin minerals business. Currently, the kaolin minerals business is part of BASF’s Performance Chemicals division.
The transaction includes production hub sites in Daveyville, Toddville, Edgar, Gordon and related mines, reserves and mills in Toomsboro and Sandersville in Georgia, USA. The co-located refinery catalysts operations will continue to be owned and operated by BASF’s refinery catalysts business and are not part of the divestiture.
“The acquisition of BASF’s kaolin business is a transformative step forward in KaMin’s strategy. The combination of these two complementary businesses allows us to further diversify our company into growth -oriented markets and augment our overall manufacturing and technical capabilities,” said Michael W. Nelson, President and Chief Executiv e Officer of KaMin. “By combining BASF’s calcine portfolio with KaMin’s hydrous products, we will be able to provide a compelling suite of kaolin - based performance mineral solutions to our distributor partners and customers globally.”
C. Rankin Hobbs, Partner and Co-Founder of IMin Partners added, “This deal extends IMin’s portfolio in the industrial minerals sector and creates a significant opportunity to deliver enhanced value to all stakeholders — investors, employees, customers and suppliers.”
“BASF’s kaolin minerals business is a well-positioned player in the growing specialty industrial minerals market. Joining a global performance minerals player will provide a more conducive environment for longer term profitable growth for the business,” added Dr. Thomas Kloster, President of BASF’s Performance Chemicals division.
Thetransactionissubjecttocustomaryclosingconditionsandregulatoryclearances.Pendingapprovalbytherelevantmerger authorities, closing of the transaction is expected in the second half of 2022. The parties have agreed not to disclose financial detailsofthetransaction. GraceMatthews,Inc.isservingastheexclusivefinancialadvisortoKaMinandIMinPartners.