Golden Gate Capital Invests in Covia Following Chapter 11 Emergence
December 31, 2020
Golden Gate Capital announced an investment in Covia as the company emerged from Chapter 11 after completing a financial restructuring that reduced long-term debt by approximately $750 million and cut fixed costs, including railcar obligations, by about $300 million. Golden Gate and its affiliates are the largest individual shareholder in Covia, a supplier of mineral-based material solutions headquartered in Independence, Ohio with an extensive network of plants and terminals across North America.
- Buyers
- Golden Gate Capital
- Targets
- Covia
- Industry
- Industrial Services
- Location
- Ohio, United States
- Transaction Type
- Recapitalization
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