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Wells Fargo CF U.K. Facilitates Acquisition of Puragen

January 29, 2020, 09:15 AM

Wells Fargo Capital Finance (UK) Limited, part of Wells Fargo & Company, announced that it worked with a newly formed European based investor group to support their acquisition of Puragen through providing a $7.5 million funding package on US based assets.

Formerly known as Oxbow Activated Carbon, Puragen (also known as Puragen Activated Carbons), offers a diverse line of activated carbon filtration and purification solutions that provide cleaner water, fresher air and better living. Post- acquisition, the credit facility will also aid ongoing working capital requirements and growth.

“We have affiliated experience of over 20 years’ in investing into industrial product and service businesses and 15 years’ in activated carbon. We plan to build the business over the longer term, creating a world class specialty activated carbon production and R&D platform, both in the US and internationally, enhancing our innovative technical capabilities and service for our valued customers” said Dave Lamb representative of the investor group.

“As sole lender, Wells Fargo Capital Finance are proud to have provided a bespoke funding solution to support the investor group’s acquisition of Puragen. We look forward to continuing our successful relationship with the group and working with them in building out their long term strategy of creating a world-class activated carbon platform,” said Tom Weedall, head of UK Originations, Wells Fargo Capital Finance.

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