One Equity Partners Sells PeroxyChem to Evonik Industries for US$625 Million

Dechert LLP is advising One Equity Partners (“OEP“), a leading middle market private equity firm, and PeroxyChem, LLC, (“PeroxyChem”), a leading global manufacturer and supplier of peroxygen chemistries, in the sale by OEP of PeroxyChem to Evonik Industries AG (FRA: EVK), a German-based publicly traded global specialty chemicals company, for US$625 million. The transaction is expected to be completed by mid-2019, subject to regulatory approvals and customary closing conditions.

PeroxyChem is an innovative producer of hydrogen peroxide and peracetic acid serving the food safety, electronics, environmental, energy and other industrial end markets. Since OEP acquired PeroxyChem in March 2014, the Company has made significant organic and inorganic investments to grow its specialty applications.

The Dechert team advising OEP and PeroxyChem was led by New York-based corporate partners Derek Winokur and Gareth Clark. The cross-border team included associates Stephen Pratt, Paul Bennett, Tarek El Erian, Valerie Etienne, Shannon Cleary and Nicole Holden; tax partner Steven Clemens with associate George Davis; antitrust partners Michael Cowie, James Fishkin, Christine Levin, George Gordon and Clemens York with associates Beverly Ang, Anna Aryankalayil, Richard Flannery, Michael Okkonen, Nicholas Passaro, Brian Rafkin, William Sohn and Arkadius Strohoff; environmental partner Abbi Cohen; employee benefits partner Eric Rubin with associates Aryeh Zuber and Ellie Kang; intellectual property partner Tom Rayski with associate Noah Shier; labor associate Jeffrey Rubin; real estate counsel Francois Quintard-Morenas; regulatory associate Darshak Dholakia; and Munich based corporate partner Giovanni Russo with associate Florian Leitsbach.

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