W. R. Grace’s $570 Million Acquisition of Fine Chemistry Services Business of Albemarle

Fried, Frank, Harris, Shriver & Jacobson and Wachtell, Lipton, Rosen & Katz acted as counsel to W.R. Grace & Co. in the transaction.W.R. Grace & Co. (Grace) executed its approximately US$570 million acquisition of the Fine Chemistry Services business (FCS) of Albemarle Corporation (Albemarle), which includes US$300 million paid in cash at closing and US$270 million funded through the issuance to Albemarle of non-participating preferred equity of a newly created Grace subsidiary.

The acquisition significantly strengthens and expands Grace’s existing pharmaceutical portfolio, and upon closing, Pharma & Consumer will be the largest, fastest growing and most profitable segment within Grace’s Materials Technologies business.

Albemarle Corporation (NYSE: ALB), headquartered in Charlotte, N.C., is a global specialty chemicals company with leading positions in lithium, bromine and refining catalysts.

W. R. Grace & Co. is a leading global supplier of catalysts and specialty materials. The company’s industry-leading business segments—Grace Catalysts Technologies and Grace Materials Technologies—provide innovative products and breakthrough technologies to enhance quality of life.

BofA Securities acted as exclusive financial advisor to Albemarle and Troutman Pepper Hamilton Sanders LLP acted as legal advisor in connection with this transaction.

The Fried Frank team advising W. R. Grace was led by corporate partner Steven Epstein (Picture) and included corporate partners Meredith L. Mackey and Caroline Sandberg; executive compensation & ERISA partner Jason R. Ertel; intellectual property and technology partner Jason L. Greenberg; tax partner Michael J. Alter; corporate special counsel David M. McDonald; corporate real estate special counsel Melissa A. Meyrowitz; environmental special counsel Mary Beth Houlihan (Phipps); corporate associates Flora Go, Asad Hussain, Ethan B. Kamer, Carolyn A. McNamara, Marie Kwon, Hannah J. Mrakovich, and Michael P. Stromquist; executive compensation & ERISA associate Samantha Steinfeld Rozell; intellectual property and technology associate Kimberly Mihovics; litigation associates Sarah M. Madigan and Jessica Senat; and tax associate Ryan L. Conley.

Wachtell, Lipton, Rosen & Katz team including partners Andrew Brownstein and Gregory Ostling.

Involved fees earner: Michael Alter – Fried Frank Harris Shriver & Jacobson; Ryan Conley – Fried Frank Harris Shriver & Jacobson; Steven Epstein – Fried Frank Harris Shriver & Jacobson; Jason Ertel – Fried Frank Harris Shriver & Jacobson; Flora Go – Fried Frank Harris Shriver & Jacobson; Jason Greenberg – Fried Frank Harris Shriver & Jacobson; Mary Beth Houlihan – Fried Frank Harris Shriver & Jacobson; Asad Hussain – Fried Frank Harris Shriver & Jacobson; Ethan Kamer – Fried Frank Harris Shriver & Jacobson; Marie Kwon – Fried Frank Harris Shriver & Jacobson; Meredith Mackey – Fried Frank Harris Shriver & Jacobson; Sarah Madigan – Fried Frank Harris Shriver & Jacobson; David McDonald – Fried Frank Harris Shriver & Jacobson; Carolyn McNamara – Fried Frank Harris Shriver & Jacobson; Melissa Meyrowitz – Fried Frank Harris Shriver & Jacobson; Kimberly Mihovics – Fried Frank Harris Shriver & Jacobson; Hannah Mrakovich – Fried Frank Harris Shriver & Jacobson; Caroline Sandberg – Fried Frank Harris Shriver & Jacobson; Jessica Senat – Fried Frank Harris Shriver & Jacobson; Samantha Steinfeld Rozell – Fried Frank Harris Shriver & Jacobson; Michael Stromquist – Fried Frank Harris Shriver & Jacobson; Andrew Brownstein – Wachtell, Lipton, Rosen & Katz; Gregory Ostling – Wachtell, Lipton, Rosen & Katz;

Law Firms: Fried Frank Harris Shriver & Jacobson; Wachtell, Lipton, Rosen & Katz;

Clients: W.R. Grace & Co.;

Martina Bellini

Author: Martina Bellini