Foley Hoag LLP represented Rive Technology, Inc. in the acquisition of its business and assets by W.R. Grace & Co. [NYSE:GRA], a provider of specialty chemicals and materials. As part of the transaction, certain research and development, technical services and commercial Rive employees will join Grace.
Rive Technology is a Boston, Massachusetts-based provider of innovative materials-based solutions for catalytic and separations processes in the petroleum refining, chemicals, water and biofuels industries. Rive Technology’s Molecular Highway™ zeolite technology is used in commercial catalytic processes, such as those used in fluid catalytic cracking (FCC) units in oil refineries.
In 2010, Rive Technology and Grace entered a joint development and commercialization program to combine Rive Technology’s innovative technology with Grace’s market-leading capabilities in FCC catalyst formulation and manufacturing. Rive Technology and Grace are currently marketing and selling breakthrough FCC catalysts to many of the world’s leading refiners. By bringing the innovation in-house, the technology can be immediately deployed to further expand Grace’s capabilities.
Foley Hoag attorneys Robert Chow, Stacie Aarestad, Gabrielle Bernstein, David Eklund and Heekyoung Lee advised Rive Technology in the transaction.