The industrial water chemicals business of Chemtura Corp., Middlebury, Conn., was sold to an affiliate of Close Brothers Private Equity LLP (CBPE), a U.K. firm for $85 million. The business will be renamed BWA Water Additives.
The new entity is a global supplier of niche specialty chemicals used in industrial water treatment applications, including the desalination sector. Brands in BWA's portfolio include Belgard and Flocon for desalination, Belclene for industrial scale control as well as BromiCide and Bellasol.
As part of the deal, CBPE has acquired the sales, marketing, technology and supply chain assets from Chemtura. The transaction does not include the manufacturing operations or facilities that will continue to operated by Chemtura.
David Cartmell, who becomes chief executive of BWA, said, “I'm delighted to have the opportunity to return to the company and play a leading role in the next stage of our growth after previously working for the business for more than 20 years. The business is committed to continuing to meet our customer needs with leading edge technology products and services.”