W.R. Grace to be sold by year’s end
Published 4:08 pm Tuesday, May 4, 2021
John Guidroz
Standard Industries Holdings, a private equity firm, will acquire W.R. Grace and Co. for $70 per share, officials announced last week. W.R. Grace’s Lake Charles plant operates in Sulphur.
The $7 billion deal is expected to close in the fourth quarter of this year. The agreement, announced April 26, means that W.R. Grace, a Maryland-based specialty chemicals firm, will become a private company once the transaction is closed.
Grace’s common stock will not be listed on the New York Stock Exchange once the deal closes.
According to documents filed with the U.S. Securities and Exchange Commission, W.R. Grace employees should not anticipate any changes with the transaction.
“It remains business as usual, and our strategic priorities remain unchanged,” the document reads. “The best thing you can do is stay focused on your day-to-day responsibilities and serving our customers.”
Standard Industry Holdings Inc. is a parent of Standard Industries. The firm 40 North, which is Grace’s largest shareholder and “related investment platform” for Standard Industry Holdings, will assume Grace’s debt, the document reads.
After the transaction closes, Grace’s headquarters will remain in Columbia, Md.
