Koppers Inc. said it reached agreement to buy the wood preservation and railroad services businesses of Osmose Holdings for $460 million.
Osmose, based in Buffalo, N.Y., has been owned by Oaktree Capital Management, a global investment firm, since 2012.
Downtown-based Koppers said revenues for the Osmose businesses it plans to purchase were approximately $390 million last year. Koppers said it will finance the acquisition through new and existing debt. It expects the deal to close in the third quarter.
Koppers, which makes carbon chemicals and railroad and utility treatment products, had sales in 2013 of nearly $1.5 billion.
Koppers executives will hold a conference call Tuesday to discuss the acquisition.
Joyce Gannon: firstname.lastname@example.org or 412-263-1580.