A New York investment fund will buy industrial minerals company Opta Minerals, including its New Orleans operations, in a deal valued at $6.6 million.
Speyside Equity Fund I LP expects to close the deal for Ontario-based Opta in April.
Opta Minerals has locations in Canada, the United States, Europe and Asia. In addition to its New Orleans site, at 4301 Poche Court West, the company has facilities in Freeport, Texas; Hardeeville, South Carolina; Norfolk, Virginia; Baltimore; and Keeseville, New York.
Opta Minerals produces, distributes and recycles industrial minerals, silica-free abrasives and specialty sands. The company’s also provides water filtration and bridge-cleaning products.
The company’s shares have fallen from $1.50 to 75 cents in the last year.