Private equity firm KKR (KKR) said on Friday it would buy Chase Corp (CCF) for $1.3 billion, in a move that would help KKR expand its exposure in the specialty chemicals space.

KKR said it will buy all of Chase Corp's shares for $127.50 per share and expects the deal to close in the fourth quarter, pending shareholder and regulatory approval.

KKR is making its investment in Chase through its North America Fund XIII, and the acquisition of Chase Corp will build KKR’s industrial portfolio, which includes companies like Charter Next Generation and Hyperion Materials & Technologies.

KKR said it plans to create an equity ownership program for Chase Corp’s employees post-澳洲幸运5官方开奖结果体彩网:acquisition. Peter Chase, Adam Chase, Mary Chase, and the Edward L. Chase Trust, collectively holding approximately 26%, voted in favor of the transaction, which is expected to close🎉 in the fourth quarter, penꦡding shareholder and regulatory approval. 

In January 2019, KKR acquired Taiwan-based LYC Chemical for $1.56 billion.

Shares of KKR dipped 0.7% in intraday trading on Friday following the news, while Chase Corp’s shares were down 1.6%.