Houghton International (Valley Forge, Pa.), a global manufacturer and supplier of industrial fluids and chemical management services, has entered into an agreement to merge with a newly formed affiliate of AEA Investors LLC, a New York private-equity investor. Houghton does not anticipate any immediate changes in its facilities, employment or range of product and service offerings, and all of the members of senior management are expected to continue on with the company. The merger agreement is subject to shareholder approval and is expected to close before the end of the year.
After the merger, the business will continue to be conducted under the Houghton International name. Since 1865, Houghton International Inc. has been serving the metalworking, automotive and steel industries with the development and production of specialty chemicals, oils and lubricants.
Houghton to Merge with Affiliate of AEA Investors
October 17, 2007