Reuters: Private Equity: Metalworking fluids co Houghton on the block

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Metalworking fluids co Houghton on the block May 10th 2012, 19:39 NEW YORK | Thu May 10, 2012 3:39pm EDT NEW YORK May 10 (Reuters) - Houghton International, which makes metalworking fluids and other chemicals for industrial uses, is being put up for sale by its private equity owner AEA Investors LP and could bring in more than $1 billion, according to two sources familiar with the matter. Deutsche Bank and Morgan Stanley have been hired to advise on the sales process, according to one of the sources. The sales process has yet to launch, that source said, but the company could attract interest from both private equity firms and strategic bidders. AEA bought Houghton for an undisclosed price in 2007. The private equity firm could not be immediately reached for comment. Headquartered in Valley Forge, Pennsylvania, Houghton makes specialty chemicals, oils and lubricants for the metalworking, automotive, steel and other industries. Deutsche Bank and Morgan Stanley declined to comment on the matter.

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