Draslovka a.s. (“Draslovka” or “the Company”), a Czech Republic-based, global, family-owned leader in CN-based specialty chemicals including next generation fumigants and biocides, today announces that it has completed the acquisition of the Mining Solutions business of The Chemours Company (“Chemours”) for a total consideration of $521 million.
This completion makes Draslovka the world’s largest producer of solid sodium cyanide and a global leader in the manufacture, technological development, and distribution of hydrogen cyanide (HCN) based specialty chemical products. The Company now has operations on three continents – Europe, the Americas, and Australasia – enabling it to provide a best-in-class service to its customers in the mining, agriculture, and diversified industrials sectors across the world.
Draslovka plans to continue its growth trajectory with this enlarged global platform supporting further strategic M&A as well as organic growth as the Company looks to capitalise on a range of opportunities for international expansion, with demand for next-generation CN-based specialty chemical products – such as EDN®, an ozone-friendly alternative to methyl bromide – continuing to increase.
Draslovka raised a $348 million syndicated Term Loan B in November via sole bookrunner J.P. Morgan to support the acquisition of Chemours Mining Solutions business. The Term Loan B and equity from the existing shareholders will be used to fund the acquisition.
Pavel Brůžek, CEO of Draslovka, said:
“We are delighted to announce the completion of this acquisition and to formally welcome our new US employees to Draslovka. 2021 has been a transformative year for our business following over 100 years of organic growth since our founding in 1906. Through this enlarged global platform, we will be better able to serve both new and existing customers, and we plan to invest for growth across our portfolio in support of our ongoing ambitious international expansion plans. We are excited by the prospect of using Draslovka’s market-leading CN-based specialty chemicals expertise and technological know-how to drive improvements in safety and efficiency, enabling us to offer our customers safe and environmentally friendly products as well as our best-in-class customer support and services.”
Source: https://www.draslovka.com/