Abstract
The elemental carbon specialist Cabot has agreed to sell its activated carbon business to the investment firm One Equity Partners for $111 million, about a tenth of the $1.1 billion Cabot paid for the business in 2012 . Before becoming Cabot’s Purification Solutions division, the unit was a privately held company called Norit that was founded in 1918 in the Netherlands. The business’s main application has been scrubbing mercury from the emissions of coal-fired power plants. That seemed like a decent bet in 2012, but in hindsight, coal was then starting a decade-long decline. Though tightening emission rules for power plants could have created more demand for scrubbing materials like activated carbon, cheap natural gas flooding the market about the same time made it easier for many users to ditch coal instead . Coal doesn’t even make the list of markets One Equity Partners mentions in a statement about the
Published Version
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