An affiliate of Cerberus Capital Management completed its previously announced acquisition of Cyanco Holding from funds managed by Oaktree Capital Management.
Cyanco is the largest global producer of sodium cyanide, a critical input in the gold and silver mining industry. The company will remain headquartered in Pearland, TX, and will continue to operate its manufacturing facilities in Nevada and Texas.
Dev Kapadia, senior managing director of Cerberus and co-chair of the Cerberus Private Equity Investment Committee, said, “Cyanco has been a trusted partner to the gold and silver mining industry for nearly three decades. Cerberus is excited to work alongside Cyanco’s management team to build upon its track record of success, accelerate its existing growth strategy, and further strengthen its competitive position.”
Cyanco will continue to be led by its current management team, though, as part of its investment, Cerberus will be putting in place a new board of directors. Daniel Ajamian will chair the board, alongside Cyanco president and CEO Jefffrey Davis and other executives from Cerberus.
