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New Deal


Announced

Completed

Compass Minerals completed the acquisition of the remaining 55% stake in Fortress.

Synopsis

Compass Minerals, a global provider of essential minerals, completed the acquisition of the remaining 55% stake in Fortress, a 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. Financial terms were not disclosed. “Being fully integrated with Compass Minerals will represent a quantum leap forward for Fortress and empower us to scale up and compete in what has been a one-sided market. Achieving the recent milestone of becoming the first new company in more than two decades to have our aerial fire retardants fully approved on the Qualified Product List, followed by securing a binding supply agreement with the USFS, represents the culmination of a multi-year effort and shared vision between the Fortress and Compass Minerals teams. Now, with a robust portfolio of next-generation formulations in the pipeline and buttressed by the infrastructure available to us as part of Compass Minerals, we are shifting our focus to the rapid acceleration of our supply chain, logistics and manufacturing capabilities. The combination of Fortress and Compass Minerals is the next natural step toward our joint mission to establish Fortress as the market leader in next-gen fire retardants,” Robert Burnham, Fortress CEO.

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