Company News
April 26, 2019
VersaFlex Buys SPI
SPI Joins the VersaFlex Family of Specialty Coatings Companies |
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Kansas City, Kansas – April 25, 2019 – Specialty Products (“SPI”), a Washington-based premier manufacturer of spray-applied polyurea elastomers, polyurethane foams and custom plural component equipment, has joined the VersaFlex family of companies.
Headquartered in Lakewood, Washington, SPI is a leading manufacturer of specialty polyurea and polyurethane foams coatings with over 45 years of experience formulating high-performance solutions.
“This is an exciting opportunity for employees and customers of SPI. Building on the 45 year success of SPI under the direction and leadership of Dan Helton and Curt Josaitis, merging with VersaFlex will allow SPI and its customers to reach new levels of success with a broader product offering and innovation support ” –Robert Jamieson, EVP M&A and Integration VersaFlex.
SPI joins VersaFlex, Raven Lining Systems, Milamar Coatings, Bridge Preservation and Vanberg Specialized Coatings as part of a growing portfolio of specialty coating solutions across an array of markets and industries.
“We’re excited to join forces with SPI. This move allows us to broaden our specialty coatings portfolio and increase our focus on polyurea coating and foam solutions. We look forward to leveraging the increased scale this acquisition provides.” –Tom Verghese, CEO VersaFlex.
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About Specialty Products (SPI)
Specialty Products, is a premier manufacturer of spray-applied polyurea elastomers, polyurethane foams and custom plural component equipment. Headquartered in Lakewood, Washington, SPI also has operation centers in Rowlett Texas, Chicago Illinois, and Anchorage Alaska. SPI is a founding member of the Polyurea Development Association (PDA). With a technical staff of a combined total of 180 years of experience, SPI is your trusted source for polyurea coatings, foam products and spray application equipment.
About VersaFlex
VersaFlex is an industry leader in 100% solids pure polyurea based technology, which is used in the protection and repair of a wide variety of industrial, commercial and maintenance environments. This includes the Bridge Preservation, which focuses on the protection and rehabilitation of highways, bridges, tunnels and rail infrastructure; SL™ series joint filler for commercial and industrial flooring applications, and FlexTain™ pre-sprayed liners for secondary containment.
About Raven Lining Systems
Raven Lining Systems is an industry leader in high build 100% solids epoxy linings for the protection and rehabilitation of wastewater, water and storm-water infrastructure for over 30 years. Their portfolio includes a broad range of specialty innovative engineered solutions, for the industrial, OEM and oil & gas markets. Raven’s innovative products are delivered through an exclusive network of certified applicators, to assure the end customers receive the highest levels of quality and performance protection.
About Milamar
Milamar manufactures high-performance epoxy and urethane coating systems designed for the protection, repair and restoration of a variety of substrates across markets and industries. Offering a comprehensive portfolio of solutions, Milamar’s technical representatives are dedicated to cultivating long-term relationships through its network of certified applicators and distributors, which extends throughout North America, Central America, South America, and Europe.
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April 26, 2019
VersaFlex Buys SPI
SPI Joins the VersaFlex Family of Specialty Coatings Companies |
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Kansas City, Kansas – April 25, 2019 – Specialty Products (“SPI”), a Washington-based premier manufacturer of spray-applied polyurea elastomers, polyurethane foams and custom plural component equipment, has joined the VersaFlex family of companies.
Headquartered in Lakewood, Washington, SPI is a leading manufacturer of specialty polyurea and polyurethane foams coatings with over 45 years of experience formulating high-performance solutions.
“This is an exciting opportunity for employees and customers of SPI. Building on the 45 year success of SPI under the direction and leadership of Dan Helton and Curt Josaitis, merging with VersaFlex will allow SPI and its customers to reach new levels of success with a broader product offering and innovation support ” –Robert Jamieson, EVP M&A and Integration VersaFlex.
SPI joins VersaFlex, Raven Lining Systems, Milamar Coatings, Bridge Preservation and Vanberg Specialized Coatings as part of a growing portfolio of specialty coating solutions across an array of markets and industries.
“We’re excited to join forces with SPI. This move allows us to broaden our specialty coatings portfolio and increase our focus on polyurea coating and foam solutions. We look forward to leveraging the increased scale this acquisition provides.” –Tom Verghese, CEO VersaFlex.
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About Specialty Products (SPI)
Specialty Products, is a premier manufacturer of spray-applied polyurea elastomers, polyurethane foams and custom plural component equipment. Headquartered in Lakewood, Washington, SPI also has operation centers in Rowlett Texas, Chicago Illinois, and Anchorage Alaska. SPI is a founding member of the Polyurea Development Association (PDA). With a technical staff of a combined total of 180 years of experience, SPI is your trusted source for polyurea coatings, foam products and spray application equipment.
About VersaFlex
VersaFlex is an industry leader in 100% solids pure polyurea based technology, which is used in the protection and repair of a wide variety of industrial, commercial and maintenance environments. This includes the Bridge Preservation, which focuses on the protection and rehabilitation of highways, bridges, tunnels and rail infrastructure; SL™ series joint filler for commercial and industrial flooring applications, and FlexTain™ pre-sprayed liners for secondary containment.
About Raven Lining Systems
Raven Lining Systems is an industry leader in high build 100% solids epoxy linings for the protection and rehabilitation of wastewater, water and storm-water infrastructure for over 30 years. Their portfolio includes a broad range of specialty innovative engineered solutions, for the industrial, OEM and oil & gas markets. Raven’s innovative products are delivered through an exclusive network of certified applicators, to assure the end customers receive the highest levels of quality and performance protection.
About Milamar
Milamar manufactures high-performance epoxy and urethane coating systems designed for the protection, repair and restoration of a variety of substrates across markets and industries. Offering a comprehensive portfolio of solutions, Milamar’s technical representatives are dedicated to cultivating long-term relationships through its network of certified applicators and distributors, which extends throughout North America, Central America, South America, and Europe.
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April 26, 2019
Recticel Statement on Kingspan Offer
Statement regarding Kingspan Group plc
Recticel NV announces that, after due consideration, in line with its fiduciary duties, of the unsolicited non-binding offer from Kingspan Plc to acquire Recticel’s Insulation and Flexible Foams divisions dated April 16, 2019 (the “FF/I Offer”), its Board of Directors (the “Board”) has unanimously decided to reject the FF/I Offer as it believes that it is not in the interest of its stakeholders to engage with Kingspan in this respect.
https://www.recticel.com/statement-regarding-kingspan-group-plc.html-1
April 26, 2019
Recticel Statement on Kingspan Offer
Statement regarding Kingspan Group plc
Recticel NV announces that, after due consideration, in line with its fiduciary duties, of the unsolicited non-binding offer from Kingspan Plc to acquire Recticel’s Insulation and Flexible Foams divisions dated April 16, 2019 (the “FF/I Offer”), its Board of Directors (the “Board”) has unanimously decided to reject the FF/I Offer as it believes that it is not in the interest of its stakeholders to engage with Kingspan in this respect.
https://www.recticel.com/statement-regarding-kingspan-group-plc.html-1
April 24, 2019
Q1 M&A Activity
Chemical Deal Results
| Seller | Buyer | Business | Date |
|---|---|---|---|
| public investment fund of Saudi Arabia | Saudi Aramco | SABIC (petrochemicals) – $45,000s/$69,000v – sale of a 70% interest | 1st Quarter 2019 |
| Newell | One Rock Capital | Process Solutions (plastic, nylon monofilament and zinc products) – $640s | 1st Quarter 2019 |
| ProPolymer Coatings | Tnemec | tank linings, exterior coatings and containment products | 1st Quarter 2019 |
| Tronox (Cristal) | Ineos | North American TIO2 – $700v | 1st Quarter 2019 |
| Benefect | ICP Group (Audax) | botanical-based disinfectant and cleaning supplies | 1st Quarter 2019 |
| Dunes Point Capital | JM Huber | Miller Chemical & Fertilizer (crop protection, fertilizer and other horticultural products) | 1st Quarter 2019 |
| BASF | Nufarm | Trunemco (seed treatment) | 1st Quarter 2019 |
| Chemroy | Azelis | distribution of specialty chemicals and food ingredients | 1st Quarter 2019 |
| New England Resins & Pigments | Brenntag | distribution | 1st Quarter 2019 |
| BCC Products | Polytek Development (Arsenal Capital) | tooling, mold making and casting polymers | 1st Quarter 2019 |
| Seller | Buyer | Business | Date |
|---|---|---|---|
| Evonik | Advent International | methacrylates – €1,800s/€3,000v | 1st Quarter 2019 |
| Axiom | Kordsa | composite materials for aerospace and industrial applications – $181v | 1st Quarter 2019 |
| Tech Air (CI Capital) | Airgas | distribution of welding gas and welding supplies – $190s | 1st Quarter 2019 |
| Actagro (Norwest Equity) | Nutrien | plant nutrients – $340v | 1st Quarter 2019 |
| Allete | Kurita | US Water Services (water treatment chemicals, equipment and engineering capabilities, service and process technology offerings) – $270v | 1st Quarter 2019 |
| The Additive Advantage | IFF | technology for printing scents, tastes and active ingredients on foods, cosmetics and nutrition products | 1st Quarter 2019 |
| Aceto | New Mountain Capital | distribution – $178s/$338v | 1st Quarter 2019 |
| GH Chemicals | EverZinc (OpenGate Capital) | zinc chemicals | 1st Quarter 2019 |
| American Dehydrated Foods and International Dehydrated Foods | Symrise | meat and egg-based ingredients for pet food – $220s/$900v | 1st Quarter 2019 |
| Americhem Sales | investment group | solvents, oils and lubricants distribution | 1st Quarter 2019 |
| Seller | Buyer | Business | Date |
|---|---|---|---|
| Pachem | Brenntag | distribution – $15s | 1st Quarter 2019 |
| DowDuPont | Gyrus Capital and management | DuPont Sustainable Solutions (operations risk management and operations excellence) | 1st Quarter 2019 |
| Polymer Concentrates | Chroma Color (Arsenal Capital) | color concentrates | 1st Quarter 2019 |
| Univar (Nexeo) | One Rock Capital | plastics distribution – $640v | 1st Quarter 2019 |
| Presco Polymers | River Associates | safety marking products | 1st Quarter 2019 |
| LCY Chemical | KKR | polypropylene, polypropylene fibers, performance composites, thermoplastic elastomers, methanol, solvents, rubber – $1,560v | 1st Quarter 2019 |
| Chemres | Charter Oak Equity | commodity and engineering resins | 1st Quarter 2019 |
| Linde | Celanese | synthesis gas plant in TX | 1st Quarter 2019 |
| Flotek Industries | ADM | Florida Chemical (citrus-based flavors and fragrances) – $175v | 1st Quarter 2019 |
| Arsenal Capital | Leggett & Platt | Elite Comfort Solutions (bedding foam products) – $1,250v | 1st Quarter 2019 |
| Seller | Buyer | Business | Date |
|---|---|---|---|
| Whitford Worldwide | PPG | fluoropolymer and ceramic coatings – $200s | 1st Quarter 2019 |
| Corteva Agriscience | American Vanguard | Quizalofop line of herbicides | 1st Quarter 2019 |
| Henkel | Molecular Products Group | Sodasorb (carbon dioxide absorbents) | 1st Quarter 2019 |
| Cabot | Sinomine Rare Metals Resources | Specialty Fluids (cesium formate brines and cesium chemicals) – $45s/$130v + royalties | 1st Quarter 2019 |
| Polymer Ventures | BASF (Chemetall) | automotive paint detackification (including Galaxy Chemical) | 1st Quarter 2019 |
| Black Diamond Structures | SABIC | energy storage applications with carbon nanotube technology | 1st Quarter 2019 |
| Reeder Distributors | Brenntag | lubricants distribution – $60s | 1st Quarter 2019 |
| Custom Polymers PET LLC | Indorama | PET recycling | 1st Quarter 2019 |
| Hemmelrath | PPG | coatings | 1st Quarter 2019 |
| Sun European Partners | Sinochem | ELIX Polymers (ABS resins and derivatives) – €195v | 1st Quarter 2019 |
| Seller | Buyer | Business | Date |
|---|---|---|---|
| Perpetual Recycling Solutions | DAK Americas | PET recycling | 1st Quarter 2019 |
| Structured Polymers | Evonik | 3D printed materials | 1st Quarter 2019 |
| Votorantim | Aterian Investment Partners | US Zinc (zinc oxide, zinc dust and zinc metal products) | 1st Quarter 2019 |
| Fiber-Line | PolyOne | engineered fibers and composite materials – $120v | 1st Quarter 2019 |
http://www.chemicaldeals.com/Results.aspx?searchtext=&quarter=1st+Quarter+2019
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