Aceto, a firm marketing, selling and distributing health and pharmaceuticals products, will sell its chemicals division to a New York private equity firm for $411 million, according to Newsday.
The deal is the second auction sale of Aceto’s assets under a Chapter 11 bankruptcy filing.
New Mountain Capital, which has more than $20 billion in assets under management, will take over ownership of Aceto's chemical division.
The deal was approved in bankruptcy court April 16.
Last week, Aceto secured court approval to sell its struggling generic drugs unit to a drugmaker in India for $15 million.