PRINT THIS PAGE Texas Pacific Group to acquire chemical company from Ripplewood in $770m deal11/11/2003. Source: AltAssets. 
 Texas Pacific Group is to acquire chemical manufacturer Kraton Polymers from Ripplewood Holdings in a $770m deal. Ripplewood acquired the company from Shell in 2001 for $520m.
Ian Snow, a Ripplewood managing director, told Reuters that the firm was set to make a ‘robust return' on the sale after an auction involving mainly private equity players.
Texas Pacific is to fund the transaction with 70 per cent debt financing and the remainder in equity. ‘We have a long history of buying leading franchises and this clearly fits in that mode,' Kelvin Davis, a Texas Pacific managing director said. ‘We think this company has terrific organic growth opportunities.'
The sale of another German chemical company, Brenntag, has moved a step nearer completion with US private equity firm Bain Capital named as the preferred bidder. Bain is competing against rival private equity firms Blackstone Group and CVC Capital Partners in an E1bn auction.
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