American Industrial Partners buys sulphuric acid business
American Industrial Partners (AIP) has acquired the sulphuric acid division of Veolia North America for USD 620 million 'to bring next-level expertise for industrial chemistry to its customer base.'
Sulphuric acid is the world's largest volume industrial chemical and sulphur derivatives are used for a broad range of industrial processes, including semiconductor production, gold and copper mining, and EV battery production.
Veolia's sulphuric acid division, which AIP has renamed Nexpera, specialises in sulphuric acid and potassium hydroxide (KOH) regeneration services, as well as sulphur-based chemical products and related services.
"Over the last two decades there has been transformative advancement in the industry, providing a great opportunity for us to increasingly serve as the go-to provider of outsourced refinery regeneration services," said Stuart Thomas, CEO of American Industrial Partners in a press release. "The business is expected to continue to benefit from strong tailwinds and our partnership with AIP will enable us to further capitalise on those opportunities to take the business to new heights. We look forward to this next chapter and working closely with AIP to chart our future growth."
American Industrial Partners describes itself as an industrials investor, with approximately USD 16 billion in assets under management. It focuses on industrial businesses across a broad range of end markets that include: aerospace, defence, automotive, chemicals, industrial technology, logistics and more.
