NEW YORK, Oct. 19, 2020 /PRNewswire/ -- The Jordan Company,
L.P. ("TJC") announced that one of its affiliates has entered into
a definitive agreement to acquire Potters Industries, LLC
("Potters"), the Performance Materials segment of publicly traded
PQ Group Holdings, Inc. ("PQ", NYSE: PQG). The
transaction is expected to close by year end 2020, subject to
customary closing conditions and regulatory approvals.
Operating out of a broad network of 28 production facilities,
Potters is a global manufacturer of engineered glass materials and
a leader in highway safety. Led by President & CEO Scott Randolph with more than 30 years of
industry experience, Potters is well positioned for future growth
as a standalone company.
"We are very excited to have TJC as our new partner," said
Scott Randolph. "With TJC's support,
we look forward to continuing to expand our business through both
organic initiatives and selective acquisitions which will further
broaden our offering to our customers. We greatly appreciate the
support we've received from PQ, and we thank them for their
guidance through the years."
"TJC is thrilled to have identified a world-class platform and
management team and we look forward to investing in the future
growth of Potters," stated Ian
Arons, Partner at TJC.
Kirkland & Ellis LLP is serving as legal counsel for TJC.
Goldman Sachs & Co. LLC and Harris Williams LLC are serving as
financial advisors and Ropes & Gray LLP is serving as legal
counsel to PQ.
About The Jordan Company, L.P.
TJC, founded in 1982, is a middle-market private equity firm with
original capital commitments in excess of $11 billion. TJC has
a 38-year track record of investing in and contributing to the
growth of many businesses across a wide range of industries,
including Industrials; Transportation & Logistics; Healthcare
& Consumer; and Telecom, Technology & Utility. The senior
investment team has been investing together for over 20 years and
is supported by its Operations Management Group, established in
1988 to initiate and support operational improvements in portfolio
companies. Headquartered in New
York, TJC also has an office in Chicago. For more information, please visit
https://www.thejordancompany.com/.
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SOURCE The Jordan Company, L.P.