Nalco acquisition by private equity group complete
The private equity group consisting of The Blackstone Group, Apollo Management, L.P., and Goldman Sachs Capital Partners announced that its acquisition of Ondeo Nalco Company from Suez, S.A. is complete.
Naperville, IL, Nov. 7, 2003 -- The private equity group consisting of The Blackstone Group, Apollo Management, L.P., and Goldman Sachs Capital Partners announced that its acquisition of Ondeo Nalco Company from Suez, S.A. is complete. The group tendered an offer for Ondeo Nalco in September for $4.2 billion. As of the closing of the sale, the officially renamed Nalco Company will operate as a privately held, independent business.
"With the sale of the company behind us, we can increase our focus on driving faster growth while improving the already high-quality service we bring to our customers," said Dr. William Joyce, Chairman and Chief Executive Officer of Nalco. "Developing innovative technology remains a core focus for Nalco. We will also redesign our structures and processes to make it easier for customers to work with us."
Nalco is transitioning to private ownership in its 75th year of operation. The company was founded in 1928.
Nalco is the provider of integrated water treatment and process improvement services, chemicals and equipment programs for industrial and institutional applications. The company currently serves more than 60,000 customer locations representing a broad range of end markets. It has established a global presence with more than 10,000 employees operating in 130 countries, supported by a comprehensive network of manufacturing facilities, sales offices and research centers. In 2002, Nalco achieved sales of $2.7 billion.