PRINT THIS PAGE Private equity consortium sells chemical company for $1.84bn19/04/2004. Source: AltAssets. 
 A private equity consortium led by AEA Investors and also including DLJ Merchant Banking Partners and MidOcean Capital has agreed to sell US speciality chemicals company Noveon for $1.84bn. The company is being acquired by fluid technology company Lubrizol.
The consortium initially acquired Noveon from global aerospace company BFGoodrich in February 2001 for approximately $1.4bn. The chemical company attempted to float in July 2002 but withdrew its intention in May 2003, citing poor market conditions.
AEA Investors was founded in 1969 by the Rockefeller, Harriman and Mellon Industrial families. The firm currently manages in excess of $1.5bn.
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