Sparta plans debt financing for performance chemicals business buy

By Sara Rosenberg

New York, March 4 – Sparta Aggregator LP has received a commitment for debt financing to help fund its acquisition of PQ Group Holdings Inc.’s performance chemicals business, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

Sparta is a partnership established by Koch Minerals & Trading LLC and Cerberus Capital Management LP for the $1.1 billion acquisition.

Other funds for the transaction will come from equity.

Closing is expected this year.

Jefferies LLC served as financial adviser to Cerberus and Koch. Citi served as lead financial adviser with BMO Capital Markets Corp. as co-advisor to PQ.

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