Private equity firm HIG Capital, LLC has completed the previously announced purchase of the Building Block Chemicals (BBC) division of Cytec Industries Inc (NYSE: CYT).

Based outside of New Orleans, BBC is a leading manufacturer of melamine, acrylonitrile and sulfuric acid, which are key intermediate chemicals critical for the manufacturing of a broad array of products used in water treatment, oil recovery, agriculture, plastics, furniture, flooring and performance coatings. The business will be rebranded and operate under the name, “Cornerstone Chemical Company.”