Nalco Acquisition Completed
A private equity group, consisting of Blackstone Group, Apollo Management L.P., and Goldman Sachs Capital Partners, all headquartered in New York, has completed its acquisition of Ondeo Nalco Co., Naperville, Ill., from Suez S.A., Paris. The group tendered an offer for Ondeo Nalco in September for $4.2 billion. Following the close of the sale in early November, the company, renamed Nalco Co., began to operate as a privately held, independent business.
William H. Joyce, Ph.D., was named chairman and CEO, and Bradley J. Bell was named executive vice president and CFO by the investment group. The company is a provider of integrated water treatment and process improvement services, chemicals and equipment programs for industrial applications.