ST. LOUIS, Jan. 14, 2017 /PRNewswire/ -- Vectra Co. ("Vectra"), a leading technology-driven diversified company serving global markets, announced today that it has completed the sale of its Borchers business division to affiliates of The Jordan Company, L.P. ("Jordan"), a U.S.-based private equity firm with original capital commitments in excess of $8 billion.
"The sale of the Borchers business is a significant milestone in executing our strategic plan for Vectra and achieving the priorities that we have set for accelerating growth at our EaglePicher and Vacuumschmelze business divisions, both of which are technological leaders in their respective industries. We are very pleased with the successful completion of this transaction, and we wish the Borchers team all the best as they continue their growth and innovation story with Jordan," said Jim Voss, Vectra's CEO.
"We are pleased to officially partner with Devlin Riley and the rest of the Borchers team to support the next phase of Borcher's development," said Erik J. Fagan, a Partner at The Jordan Company, L.P. "We are committed to continuing to invest in Borchers through innovative product development to support its long-standing customers."
"We are excited to commence our partnership with Jordan, whose expertise in investing in chemical companies will help our talented and dedicated Borchers' team continue to deliver innovative solutions and exceptional service to our loyal customers," said Devlin Riley, Borchers' President.
Moelis & Company acted as the lead financial advisor to Vectra, and Paul, Weiss, Rifkind, Wharton & Garrison LLP and O'Melveny & Myers LLP (with respect to environmental matters) acted as its legal advisors on the transaction. Credit Suisse Securities (USA) LLC also acted as an advisor to Vectra. Legal advisor to Jordan is Mayer Brown LLP.
About Vectra Co.
VECTRA is a technology-driven diversified industrial company serving attractive global markets, including automotive systems, electronic devices, aerospace and defense, industrial and medical. Its business platforms use technology to address customers' complex applications and demanding requirements. For more information, visit Vectra's website at www.vectraco.com
About The Jordan Company, L.P.
JORDAN, founded in 1982, is a middle-market private equity firm that manages funds with original capital commitments in excess of $8 billion. Jordan has a 34-year track record of investing in and contributing to the growth of many businesses across a wide range of industries. Headquartered in New York, Jordan also has an office in Chicago. For more information, visit Jordan's website at www.thejordancompany.com.
SOURCE Vectra Co.