Shareholder CCMP Capital Sees Bright Future for Eco Services Merger with PQ Corporation
Before Stephen Murray passed away in May 2015, he closed the CCMP Investors Fund III deal, in September 2014 and purchased 49 percent interest in PQ Holdings, Incorporation the end of the year. Three months after his death, PQ Corporation and Eco Services Operations LLC announced the merger of the two manufacturing companies.
CCMP Capital is one of the shareholders of PQ Corporation and Eco Services, and recently reported the merger was successfully closed on May 4th, 2016. The merger positioned PQ as one of the leading inorganic chemical companies in the world. Eco Services will conduct businesses as usual under the name of PQ Corporation. Read more: Stephen P. Murray, 52; Financial Executive; Stamford Resident; Vice Chair Boston College Board of Trustees
The closing of the merger between PQ and Eco happened one year and four months later after CCMP Capital acquired shareholder stakes. The passing of Mr. Murray may have delayed the merger because of the Investors Fund III reinstatement.
He was one of the major investors to invest into the fund. The other key investors moved fast to pledge additional capital and to purchase Mr. Murray’s shares. In May 2015, two months after his death, the fund received approval to continue with investment activities.
CCMP Capital will continue its role as an affiliate and shareholder of PQ Corporation. PQ now offers sulfuric and recycling services, previously offered by Eco Services. CCMP Capital and PQ Corp. believe the merger is a strategic investment transaction to expand and profit in the future and you can read more: CCMP’s Murray dead at 52.
Stephen Murray was involved in the acquisition of the PQ and Eco Services, and owned shares. The CCMP Investors Fund III continues to strive for excellence as Mr. Murray planned in 2014, when the deal was closed.
Mr. Stephen Murray founded CCMP Capital in 2006 and remained faithfully to his partners until he departed. He served as President and Chief Executive Officer from 2007 through February 2015, before his resignation.
Mr. Murray is remembered in the New York Metro and Stamford, Connecticut communities as a loving husband, successful entrepreneur, and philanthropist. His surviving family includes wife Tami, and sons, James, Nolan, Ryan, and Sean.
Funeral Services for Stephen Murray was held on the 17th of March, 2015 at the Holy Spirit Catholic Church in Stamford. Additional surviving family members are his father Joseph, mother Nancy, brother Christopher, brother John and sister Joann. Mr. Murray is always remembered among family members, CCMP Capital, and the CCMP Investors Fund III as dedicated and successful.
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