SOURCE: American Securities

American Securities

January 03, 2011 16:40 ET

American Securities Completes the Sale of MECS, Inc. to DuPont

NEW YORK, NY--(Marketwire - January 3, 2011) - Affiliates of American Securities LLC, a New York-based private equity firm, have completed the sale of MECS, Inc. after almost three years of partnership with the management of the company and following significant accomplishments by MECS over this period. Terms of the agreement were not disclosed.

American Securities, together with members of the management team, acquired MECS in January 2008. The company is a leading provider of process technology, proprietary specialty equipment, and technical services to the sulfuric acid industry. MECS operates globally with approximately 70 percent of its revenue generated outside North America and in locations that include Brazil, China, India, and parts of Africa. A large number of the world's sulfuric acid producers use MECS technology to capture sulfur that would otherwise become a pollutant and then to transform it into sulfuric acid, the most widely used chemical in the world and a vital part of virtually every industry.

Paul Rossetti, a managing director of American Securities, said, "We are pleased that we have completed the sale of MECS to DuPont, a company that MECS knows well. Our partnership with Nick Bhambri and the rest of the MECS management team has been a success in every way. American Securities worked together with them to further build and enhance MECS' strength in areas such as overseas markets, technology solutions, and innovation, and in doing so we earned very strong returns for our investors and management partners."

Nick Bhambri, CEO of MECS, stated, "During our three years with American Securities, MECS embarked on a mission to accelerate sound and sustainable growth in the sulfuric acid industry. Every step of the way, our partners at American Securities added value through their analytical expertise, Shanghai office resources, experience and long-term focus. They believed in our ability to build a great company and played a strong role in supporting our growth initiatives, including the participation of their Resources Group. Now, as a result of this acquisition, we are confident that by integrating DuPont and MECS expertise and technologies both organizations will have excellent opportunities for growth."

About American Securities
Headquartered in New York with an office in Shanghai, American Securities LLC is a U.S. private equity firm that invests in market-leading companies in North America with annual revenues generally ranging between $100 million to $1 billion. Investments are funded from more than $6 billion of committed capital. The firm traces its roots to the family office founded in 1947 by William Rosenwald to invest and manage his share of his family's Sears, Roebuck & Co. fortune. More information on American Securities LLC can be found at www.american-securities.com.

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