On 3rd March, 2008, Palladium Equity Partners announced that it was going to acquire American Gilsonite Company. Both, Palladium Equity Partners and American Gilsonite Company expected that the acquisition deal will be completed by the end of the first quarter of 2008.
Palladium Equity Partners Business Deals refer to the business deals made by Palladium Equity Partners, a leading equity investment company. The most recent business deal of Palladium Equity Partners is the Acquisition deal made with American Gilsonite Company, a leading provider of Gilsonite products.
On 3rd March,2008, Palladium Equity Partners announced this acquisition deal and made it clear that it was going to acquire American Gilsonite Company(AGC).
Profile of American Gilsonite Company
American Gilsonite Company is basically involved in producing industrial minerals. The company manufactures Gilsonite, variety of Asphaltite and specialty Hydrocarbons.
The mines of American Gilsonite Company are situated in Bonanza, Utah. Most of the employees of the company work from Utah, as most of the offices of American Gilsonite Company are situated there. But, the headquarters of American Gilsonite Company is located in Palo Alto, CA.
Details of the Acquisition Deal
Through this acquisition deal, Palladium Equity Partners will acquire American Gilsonite Company for $74 million. The Board of Directors of both the companies have agreed on the acquisition deal. Since, approval of the final transaction has been received from both the authorities, it is expected that the acquisition deal is going to close during March, 2008.
American Gilsonite Company has also informed that they are hopeful about completing the transactions of the acquisition deal by the end of the first quarter of 2008.
In the acquisition deal, it has been decided that, after the acquisition, the combined company will use the Brand Name of American Gilsonite Company. It was also decided, that even after completion of the acquisition deal, Breckenridge Group Inc. will continue to work as the financial advisor of American Gilsonite Company. The same decision was taken about the legal advisor firm Greenberg Traurig.