Superior Plus completes sale of specialty chemicals business to Birch Hill

On February 18, 2021, Superior Plus Corp. (“Superior”) announced that its subsidiary, Superior Plus LP, entered into a definitive agreement with Birch Hill Equity Partners (“Birch Hill”) to sell its specialty chemicals business, operating as ERCO Worldwide (“ERCO”), for total consideration of C$725 million. Under the terms of the transaction, Superior would receive C$600 million in cash proceeds from Birch Hill, and C$125 million in the form of a 6% unsecured note issued by an affiliated entity of Birch Hill acquiring ERCO.

Closing of the transaction was announced on April 9, 2021.

Further information can be found on Business Wire’s website.

ERCO is focused largely on the production and supply of in-organic products along with technology for the production of chlorine dioxide.

Birch Hill is a Canadian mid-market private equity firm with over C$4 billion in capital under management.

Superior consists of two primary operating businesses: Energy Distribution includes the distribution of propane and distillates, and Specialty Chemicals includes the production and distribution of specialty chemicals products.