Ka Min to acquire BASF kaolin minerals Business
Ka Min, a global performance minerals company owned by I Min Partners, and BASF have entered into a definitive agreement in which Ka Min 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 Executive Officer of Ka Min. “By combining BASF’s calcine portfolio with Ka Min’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.”
“Well-positioned player”
“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.
The transaction is subject to customary closing conditions and regulatory clearances. Pending approval by the relevant merger authorities, closing of the transaction is expected in the second half of 2022. The parties have agreed not to disclose financial details of the transaction. Grace Matthews, Inc. is serving as the exclusive financial advisor to Ka Min and I Min Partners.
