NEW YORK - CCMP Capital Advisors, LLC, on behalf of J.P. Morgan Partners, LLC, (JPMP), has reached an agreement for The Carlyle Group to acquire Niagara Holdings, Inc., parent company of PQ Corp., a producer of specialty inorganic chemicals, catalysts, and engineered glass products, for about $1.5 billion.
The transaction is expected to be completed in the third quarter of 2007.
Affiliates of JPMP acquired PQ in February 2005. In August 2006, JPMP formed CCMP Capital and have continued to manage this investment on behalf of JPMP.
PQ Corporation has 60 manufacturing sites in 19 countries.
CCMP Capital Advisors has invested about $12 billion in more than 380 buyout and growth equity transactions.
JPMP, a private equity division of JPMorgan Chase & Co., has invested approximately $15 billion worldwide in consumer, media, energy, industrial, financial services, healthcare and technology companies.
The Carlyle Group is a global private equity firm with $58.5 billion under management.