An affiliate of Cerberus Capital Management has entered an agreement to acquire Cyanco Holding from funds managed by Oaktree Capital Management.
Cyanco is a global producer of sodium cyanide, a critical input in the gold and silver mining industry.
The companies have not disclosed the terms of the transaction, which is subject to customary conditions to closing.
For 30 years, Cyanco has been providing technologies and services for the application of sodium cyanide for precious metals in the gold and silver mining industry.
The company is able to deliver its products to customers in North America, Latin America, and Africa through manufacturing facilities in Nevada and Texas, US, and delivery terminals in Wyoming, US; Quebec, Canada; and Mexico.
Cerberus managing director Dev Kapadia said: “We are pleased to acquire Cyanco, an industry leader with a reputation for safety, reliability, and customer service.
“We believe in Cyanco’s proven business model, which has demonstrated positive, sustainable growth due to its long-term customer contracts, strong cash-flow, and leading competitive position in the attractive sodium-cyanide market.
“We look forward to working with the management team at Cyanco to provide expansion capital and operational expertise to accelerate the company’s successful growth strategy.”
According to the company, all Cyanco’s facilities are certified according to the International Cyanide Management Code (ICMC).
The company’s applied technology provides consulting services, laboratory support, and cyanide processing solutions to assist customers in metal recoveries and sodium cyanide usage throughout the mine lifecycle.
Cyanco president and CEO Jeffrey Davis said: “This transaction will strengthen our position as the North American leader in supplying superior products, services, and technology to customers in the gold and silver mining industry.
“Cerberus’s long-term partnership will enable further investment in our people, business processes, and manufacturing operations for the benefit of our partners and customers who count on us for our reliability and efficiency.”