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Article: Chemistry must be right: ex-BFG exec, investors pool $250M to build chemicalgiant. (former B.F. Goodrich Co. president John Lauer; Primus Venture Partners;Bessemer Holdings L.P.)
- Article from:
- Crain's Cleveland Business
- Article date:
- April 3, 1995
- Author:
CopyrightCOPYRIGHT 1995 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Primus Venture Partners, Bessemer Holdings L.P. of New York and former B.F. Goodrich Co. president John Lauer have put together $250 million in equity and plan to spend as much as $1 billion to build through acquisitions a major chemical company to be based in Cleveland.
The partners are studying eight companies as possible acquisition candidates and have looked at more than 20 companies to date, Mr. Lauer said last week from his Shaker Heights home.
"I would say we'll have to go through 50 or more of these before we find the right one to serve as a platform on which to build," Mr. Lauer said.
Mr. Lauer said he hopes to close the first acquisition soon, ...