MacDermid shareholders approve acquisition by investor group, merger closes

By Lisa Kerner

Charlotte, N.C., April 12 - MacDermid, Inc. shareholders approved the merger agreement with Matrix Acquisition Corp., an entity formed by an investor group led by Court Square Capital Partners II, LP, Weston Presidio V, LP and Daniel H. Leever - and the transaction then closed.

Under the terms of the merger, MacDermid's outstanding shares of common stock have been converted into the right to receive $35 in cash per share, according to a company news release.

Matrix Acquisition has accepted for purchase $298,830,000 total principal amount of the company's 9 1/8% senior subordinated notes due 2011 in a tender offer scheduled to end on April 17.

In addition, Matrix sold $350 million principal amount of 9½% senior subordinated notes due 2017.

MacDermid is a manufacturer of specialty chemical processes for the metal and plastic finishing, electronics and graphic arts industries based in Denver.

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