The global activated carbon market is expected to grow at a CAGR of ~9 percent due, in part, to increased regulatory standards around air purification, water treatment, renewable natural gas purification and pharmaceutical drug production. “The senior management team and I are eager to collaborate closely with OEP’s professionals as we continue to grow through geographic expansion, product offering diversification, technology innovation and strategic acquisitions,” said Imtiaz Kathawalla, CEO of Norit. The Company operates two plants in North America, five facilities in Europe and participates in three joint ventures in Canada, Asia and Mexico. Norit manufactures a broad portfolio of activated carbon products used for purification needs in growing sectors including renewable natural gas, food and beverage, chemicals, pharmaceuticals, air quality, water, and automotive.
“Norit has been a leading player in the activated carbon space for over 100 years, and we are excited to partner with the Norit team and help drive the company’s growth and development,” said Joe Huffsmith, Managing Director, OEP.
NEW YORK-( BUSINESS WIRE)-One Equity Partners (“OEP”), a middle market private equity firm, today announced that it has completed the acquisition of Norit Activated Carbon (“Norit” or “the Company”), a global manufacturer of activated carbon for purification solutions, from corporate parent Cabot Corporation (NYSE: CBT).
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