Calgon Carbon completed its acquisition of the wood-based activated carbon, reactivation and mineral-based filtration media business from CECA. At closing, Calgon Carbon paid €140.7 million ($153 million) in cash and assumed €6.5 million ($7.1 million) of unfunded pension liabilities. The cash portion of the purchase price was funded through borrowings under the company’s recently upsized $300 million revolving credit facility.

According to a related 8-K filing, PNC served as administrative agent, swing loan lender and issuing lender for the $300 revolving credit facility and $100 million term loan, which closed on October 4. Citizens Bank was syndication agent. Bank of America and Branch Bank were co-documentation agents. PNC Capital Markets and Citizens served as joint lead arrangers and joint bookrunners.

The business will be integrated into Calgon Carbon’s European operations and conduct business under the name Chemviron. The transaction is expected to be accretive to Calgon Carbon’s fully diluted earnings per share in 2017, excluding purchase accounting adjustments, by $0.08 to $0.11.

“I am extremely pleased to announce the completion of the acquisition of the Activated Carbon and Filter Aid Business – a transaction that is a natural and strategic fit for Calgon Carbon,” said Randy Dearth, Calgon Carbon’s chairman, president and CEO. “With its complementary wood-based activated carbon and reactivation services, and its adjacent diatomaceous earth and perlite filtration media capabilities, this addition creates a more balanced and diverse global platform from which we expect to deliver incremental value to our customers and shareholders.”

Houlihan Lokey acted as Calgon Carbon’s financial adviser and Jones Day acted as Calgon Carbon’s legal counsel for the transaction.

Pittsburgh-based Calgon Carbon is manufacturer of activated carbon, with broad capabilities in ultraviolet light disinfection. The company provides purification solutions for drinking water, wastewater, pollution abatement and a variety of industrial and commercial manufacturing processes.