Ashland Water Technologies plans financing for buyout by CD&R

By Sara Rosenberg

New York, Feb. 18 - Ashland Water Technologies has received a commitment for financing to help fund its roughly $1.8 billion purchase by Clayton, Dubilier & Rice from Ashland Inc., according to a news release.

Bank of America Merrill Lynch, Credit Suisse, Goldman Sachs Bank USA, Macquarie Capital, Nomura Securities International Inc. and RBC Capital Markets are the lead banks on the financing.

Closing is expected by Sept. 30, subject to regulatory approvals, standard conditions and completion of required employee information and consultation processes.

Ashland Water Technologies is a supplier of specialty chemicals for process, functional and water treatment applications.

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