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Cerberus Capital to Acquire Cyanco from Oaktree Capital

February 07, 2018, 07:00 AM
Filed Under: Chemicals

Cerberus Capital Management, L.P. announced that an affiliate has entered into an agreement to acquire Cyanco Holding Corp. from funds managed by Oaktree Capital Management, L.P.  Cyanco is the largest global producer of sodium cyanide, a critical input in the gold and silver mining industry. Terms of the transaction, which is subject to customary conditions to closing, were not disclosed.

For the past three decades, Cyanco has been a trusted partner to the gold and silver mining industry, providing leading technology, best-in-class service, and exceptional safety in the application of sodium cyanide for precious metals mining.  The company currently has manufacturing facilities in Nevada and Texas and delivery terminals in Wyoming, Quebec, and Mexico, enabling Cyanco to efficiently and reliably deliver its products to customers throughout the Americas and around the world.

"We are pleased to acquire Cyanco, an industry leader with a reputation for safety, reliability, and customer service," said Dev Kapadia, Managing Director of Cerberus. "We believe in Cyanco's proven business model, which has demonstrated positive, sustainable growth due to its long-term customer contracts, strong cash flow, and leading competitive position in the attractive sodium-cyanide market. We look forward to working with the management team at Cyanco to provide expansion capital and operational expertise to accelerate the company's successful growth strategy."

Cass Traub, Managing Director of Oaktree added, "This transaction marks the next logical stage in Cyanco's evolution. After working alongside management for the past nine years, we have every confidence that Cerberus and management will create an even greater Cyanco enterprise."

"We are proud to partner with Cerberus, whose industrial sector experience and industry-leading Operations Team will be instrumental in driving Cyanco's next phase of growth," said Jeffrey Davis, President and CEO of Cyanco. "This transaction will strengthen our position as the North American leader in supplying superior products, services, and technology to customers in the gold and silver mining industry. Cerberus's long-term partnership will enable further investment in our people, business processes, and manufacturing operations for the benefit of our partners and customers who count on us for our reliability and efficiency."

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