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Lubrizol Completes Sale Industrial Specialties, Food Ingredients Businesses

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

The Lubrizol Corporation has completed the sale of its food ingredients and industrial specialties businesses to an affiliate of Sun Capital Partners, Inc., a private investment firm with headquarters in Boca Raton, FL. Cash proceeds of the transaction were $270 million.
    
On March 17, Lubrizol announced that it had entered into a definitive agreement to sell the business to Sun Capital. The business consists of a fine chemicals group, a specialty polymers and additives group and a performance materials group. It previously reported to the Noveon Specialty Chemicals segment and will be renamed Emerald Performance Materials, LLC.

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