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June 6, 2006
By: DAVID SAVASTANO
The Lubrizol Corporation has completed the sale of its food ingredients and industrial specialties businesses to an affiliate of Sun Capital Partners, Inc., a private investment firm with headquarters in Boca Raton, FL. Cash proceeds of the transaction were $270 million. On March 17, Lubrizol announced that it had entered into a definitive agreement to sell the business to Sun Capital. The business consists of a fine chemicals group, a specialty polymers and additives group and a performance materials group. It previously reported to the Noveon Specialty Chemicals segment and will be renamed Emerald Performance Materials, LLC.
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