RathGibson to be Sold to Affiliates of DLJ Merchant Banking

The acquisition is expected to be completed by June 30.RathGibson Inc. today announced that its parent, RGCH Holdings Corp., has signed an agreement to be sold to affiliates of DLJ Merchant Banking Partners for approximately $440 million. RathGibson Inc., a Janesville, Wis.-based manufacturer of stainless steel and alloy welded tubular products, has a 225,000-square-foot manufacturing facility in North Branch that employs approximately 170 people, according to company. Under the agreement, DLJ, a private equity investment affiliate of Swiss bank Credit Suisse, is expected to offer to purchase RathGibson’s 11.25 percent senior notes due 2014 at a purchase price of 101 percent of the principal amount. The acquisition is expected to be completed by June 30.