Cabot to Buy Activated Carbon Maker Norit for $1.1 Billion

Prevost: Strong play in activated carbon. Cabot has agreed to acquire activated carbon maker Norit (Amersfoort, the Netherlands) for $1.1 billion. “This acquisition supports the ongoing transformation of our portfolio to a higher margin, less cyclical, specialty chemicals-focused company,” says Cabot president and CEO Patrick Prevost. Norit’s current CEO, Ronald Thompson, is expected to remain with Cabot and will continue to run the business. Norit posted 2011 revenue of $360 million, and Ebitda of $92 million. Cabot is paying roughly 12 times...

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