Carlyle-Backed Chemical Co. Plans $450M IPO

Law360, New York (February 12, 2014, 1:55 PM EST) -- Chemicals maker PQ Holdings Inc., backed by private equity giant The Carlyle Group LP, is issuing an initial public offering of common stock to raise up to $450 million, the company said in regulatory filings Tuesday.

PQ is a leading manufacturer of specialty inorganic performance chemicals with a 90 percent market share in core business areas, the company said. Carlyle owns 50.6 percent of the company with INEOS Group Ltd. owning 33.7 percent, according to the IPO filing with the U.S. Securities and Exchange Commission. Carlyle...
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