Private-equity firm Arsenal Capital Partners said Oct. 3 that it completed the sale of its portfolio company Kel-Tech Inc., which manufactures and supplies specialty chemical products and services for onshore production, field stimulation and drilling applications throughout the U.S., to Clariant Corp.
Financial terms of the transaction were not disclosed. Neil Harrop, Kel-Tech’s CEO, is departing the company.
Tim Zappala, a partner who co-heads Arsenal's specialty industrials group, said that the acquisitions of Kel-Tech and Danlin were successfully integrated during Arsenal’s partnership with Kel-Tech.
Jones Day LLP was the legal adviser to Arsenal and Kel-Tech.
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