HIG Is Said to Weigh Sale of $2 Billion Chemicals Firm Usalco

HIG Capital is exploring a sale of Usalco in a deal that could value the specialty chemicals company at as much as $2 billion including debt, people with knowledge of the matter said.

The private equity firm is working with advisers to gauge buyer interest in Baltimore, Maryland-based Usalco, according to the people, who asked not to be identified discussing confidential information.

Deliberations are ongoing and there’s no certainty they’ll lead to a transaction, the people said. A representative for HIG declined to comment, while a spokesperson for Usalco couldn’t immediately be reached for comment.

Usalco provides water-treatment chemicals for ...