Compass Minerals in Acquisition of Fortress
May 5, 2023
Cleary Gottlieb represented Compass Minerals International, Inc. (Compass Minerals) in its acquisition of approximately 55% of the ownership interests in Fortress North America, LLC and FRS Group LLC (collectively, Fortress).
Prior to the transaction, Compass Minerals was an approximately 45% minority owner of Fortress since its investment in November 2021.
The transaction signed and closed on May 5, 2023.
With corporate locations in California and Montana, Fortress, founded in 2016, is a new and innovative fire retardant company that has designed and developed the Fortress family of chemically advanced “next generation” long-term fire retardants, engineered for environmental safety and superior efficacy.
Compass Minerals is a leading global provider of essential minerals focused on safely delivering where and when it matters to help solve nature’s challenges for customers and communities. Compass Minerals’ salt products help keep roadways safe during winter weather and are used in numerous other consumer, industrial, chemical and agricultural applications. Its plant nutrition products help improve the quality and yield of crops, while supporting sustainable agriculture. Additionally, Compass Minerals is pursuing development of a sustainable lithium brine resource to support the North American battery market and is the owner of Fortress North America, a next-generation fire retardant company. Compass Minerals operates 12 production and packaging facilities with nearly 2,000 employees throughout the U.S., Canada, and the UK.