Chase Corp. agrees to be acquired by private-equity firm KKR for $1.3 billion in cash

Chase Corp.
CCF,
-1.44%,
a specialty chemicals company, said Friday it has agreed to be acquired by private-equity firm KKR & Co. Inc.
KKR,
-0.51%
for $1.3 billion in cash. Under the terms of the deal, KKR will pay $127.50 for each Chase share owned, or about 13 times its trailing-12-month Ebitda. The board-approved deal is expected to close in the fourth quarter. Chase stock has gained 48% in the year to date, while the S&P 500
SPX,
+0.23%
has gained 18%.