Mergers & Acquisitions
February 8, 2022
Carlisle Acquisition of MBTechnology
SCOTTSDALE, Ariz., February 01, 2022–(BUSINESS WIRE)–Carlisle Companies Incorporated (NYSE:CSL) today announced the acquisition of MBTechnology, Inc., (MBT) a leading manufacturer of energy-efficient, styrene-butadiene-styrene modified bitumen roofing and underlayment systems for residential and commercial applications. The purchase of MBT is consistent with Carlisle’s Vision 2025 strategy to build scale in our highest returning businesses through synergistic acquisitions to drive in excess of $15 of earnings per share. MBT will become part of the Carlisle Construction Materials (CCM) operating segment and is a strategic bolt-on to Carlisle’s recent Henry Company acquisition.
Founded in 1983 and based in Fresno, California, MBTechnology, Inc. provides product line extensions, turnkey capacity to meet rolled goods demand and further expansion into West Coast markets over the coming years.
Chris Koch, Chairman, President and Chief Executive Officer, said, “The acquisition of MBTechnology, Inc., together with our recent acquisition of Henry Company, is consistent with our stated strategy to invest in our building products platform, expand our presence throughout the building envelope and continue to provide our customers with energy-efficient solutions.”
Henry Company President, Frank Ready, stated, “We are excited to have MBT join CCM’s Carlisle Weatherproofing Technologies (CWT) business where they will expand CWT’s modified bitumen roofing offerings and provide additional capacity for roofing underlayments. MBT also shares Carlisle’s commitment to improving the energy-efficiency of buildings in several ways. First, MBT manufactures systems to control the flow of water, vapor, air and energy in a building; second, more than half of MBT’s consumed energy is derived from on-site solar panels; and third, MBT’s Ecotorch product, a modified bitumen torch applied roofing membrane, is made partially from recycled tires, which complements our Ultimate RB business. Leveraging the Carlisle Experience and our culture of continuous improvement, I am confident this transaction will create significant value for all our stakeholders. We welcome MBTechnology’s experienced team to Carlisle.”
About Carlisle Companies Incorporated
Carlisle Companies Incorporated is a leading supplier of innovative Building Envelope products and energy-efficient solutions for customers creating sustainable buildings of the future. Through its Construction Materials (CCM) business and family of leading brands, Carlisle delivers innovative, labor-reducing and environmentally responsible products and solutions to customers through the Carlisle Experience. Over the life of a building, Carlisle’s products help drive lower greenhouse gas emissions, improve energy savings for building owners and operators, and increase a building’s resiliency to the elements. Driven by its strategic plan, Vision 2025, Carlisle is committed to generating superior shareholder returns and maintaining a balanced capital deployment approach, including investments in our businesses, strategic acquisitions, share repurchases and continued dividend increases. Carlisle also is a leading provider of products to the Aerospace, Medical Technologies and General Industrial markets through its Interconnect Technologies (CIT) and Fluid Technologies (CFT) business segments.
https://finance.yahoo.com/news/carlisle-companies-acquire-mbtechnology-inc-210500521.html
February 2, 2022
Westlake Completes Epoxy Purchase of Hexion
Westlake completes acquisition of Hexion epoxy business February 02/2022 MOSCOW (MRC) — Westlake Chemical Corporation has announced that it has completed the acquisition of Hexion Inc.’s global epoxy business for approximately USD1.2 billion in an all-cash transaction, as per the company’s press release.
Based in Rotterdam, The Netherlands, the epoxy business, which will be branded as Westlake Epoxy, is an industry leader in the manufacture and development of specialty resins, coatings and composites for a variety of industries, including high-growth and sustainability-oriented end-uses such as wind turbine blades and light-weight automotive structural components.
“With this transaction, Westlake will significantly expand its integrated business by adding a leading downstream portfolio of coatings and composite products,” said Westlake President and Chief Executive Officer Albert Chao. “Light-weighting is a critical feature for the manufacture of structural components for automobiles and for renewable energy, particularly the composite blades used by wind turbines, and epoxies are key ingredients for these sustainable products. The industries served by Westlake Epoxy are very attractive and the business is expected to be a synergistic addition to Westlake’s existing businesses. We welcome the epoxy employees to the Westlake family and look forward to realizing the tremendous opportunities to grow the combined businesses.”
Westlake Epoxy is a global leading producer of epoxy resins, modifiers and curing agents for high-performance materials, coatings and composites. The fully-integrated business includes upstream base epoxy resins and intermediates delivered as liquid or solid epoxy resins, as well downstream specialty epoxy resins used in coatings and composites. Westlake Epoxy serves numerous industries, including adhesives; aerospace; automotive; civil engineering and construction; composite and wind energy; electronics; electrical laminates; as well as marine and protective coatings.
As MRC reported before, in 2021, Hexion Inc., a major American manufacturer of phenol and bisphenol A (BPA), has recently announced that in order to help address climate change, it has committed to reduce absolute carbon emissions by 20% by 2030.
Hexion Inc., formerly Momentive Specialty Chemicals Inc., is a chemical company based in Columbus, Ohio. It manufactures thermosetting resins and related technologies and specialty products. Hexion has two divisions: the epoxy, phenolic and coating resins division and the forest products division.
Westlake Chemical Corporation is an international manufacturer and supplier of petrochemicals, polymers and building products with headquarters in Houston, Texas. The company’s range of products includes: ethylene, polyethylene, styrene, propylene, chlor-alkali and derivative products, PVC suspension and specialty resins, PVC Compounds, and PVC building products including siding, pipe, fittings and specialty components, windows, fence, deck and film.
http://www.mrcplast.com/news-news_open-398970.html
February 2, 2022
Westlake Completes Epoxy Purchase of Hexion
Westlake completes acquisition of Hexion epoxy business February 02/2022 MOSCOW (MRC) — Westlake Chemical Corporation has announced that it has completed the acquisition of Hexion Inc.’s global epoxy business for approximately USD1.2 billion in an all-cash transaction, as per the company’s press release.
Based in Rotterdam, The Netherlands, the epoxy business, which will be branded as Westlake Epoxy, is an industry leader in the manufacture and development of specialty resins, coatings and composites for a variety of industries, including high-growth and sustainability-oriented end-uses such as wind turbine blades and light-weight automotive structural components.
“With this transaction, Westlake will significantly expand its integrated business by adding a leading downstream portfolio of coatings and composite products,” said Westlake President and Chief Executive Officer Albert Chao. “Light-weighting is a critical feature for the manufacture of structural components for automobiles and for renewable energy, particularly the composite blades used by wind turbines, and epoxies are key ingredients for these sustainable products. The industries served by Westlake Epoxy are very attractive and the business is expected to be a synergistic addition to Westlake’s existing businesses. We welcome the epoxy employees to the Westlake family and look forward to realizing the tremendous opportunities to grow the combined businesses.”
Westlake Epoxy is a global leading producer of epoxy resins, modifiers and curing agents for high-performance materials, coatings and composites. The fully-integrated business includes upstream base epoxy resins and intermediates delivered as liquid or solid epoxy resins, as well downstream specialty epoxy resins used in coatings and composites. Westlake Epoxy serves numerous industries, including adhesives; aerospace; automotive; civil engineering and construction; composite and wind energy; electronics; electrical laminates; as well as marine and protective coatings.
As MRC reported before, in 2021, Hexion Inc., a major American manufacturer of phenol and bisphenol A (BPA), has recently announced that in order to help address climate change, it has committed to reduce absolute carbon emissions by 20% by 2030.
Hexion Inc., formerly Momentive Specialty Chemicals Inc., is a chemical company based in Columbus, Ohio. It manufactures thermosetting resins and related technologies and specialty products. Hexion has two divisions: the epoxy, phenolic and coating resins division and the forest products division.
Westlake Chemical Corporation is an international manufacturer and supplier of petrochemicals, polymers and building products with headquarters in Houston, Texas. The company’s range of products includes: ethylene, polyethylene, styrene, propylene, chlor-alkali and derivative products, PVC suspension and specialty resins, PVC Compounds, and PVC building products including siding, pipe, fittings and specialty components, windows, fence, deck and film.
http://www.mrcplast.com/news-news_open-398970.html
January 26, 2022
Hexion Shareholders Approve Acquisition
Hexion shareholders approve acquisition by private equity firm January 26/2022 MOSCOW (MRC) — Hexion Holdings Corporation has announced that stockholders holding approximately 64.32% of the outstanding shares of common stock of the Company delivered to the Company written consents approving the proposed acquisition of the Company by affiliates of American Securities LLC, according to MorningStar.
Under and subject to the terms of the definitive merger agreement with affiliates of American Securities LLC, Hexion stockholders will be entitled to receive USD30.00 in cash for each share of common stock they own.
Hexion last month entered into a definitive agreement to be acquired by American Securities for USD2.06bn, including the assumption of around USD1.24bn in net debt, for a total enterprise value of around USD3.3bn.
The sale to American Securities, along with the earlier deal to sell its epoxy business to Westlake Chemical, concludes Hexion’s evaluation of strategic actions aimed at maximising shareholder value.
As MRC reported before, in July 2021, Hexion Inc., a major American manufacturer of phenol and bisphenol A (BPA), has recently announced that in order to help address climate change, it has committed to reduce absolute carbon emissions by 20% by 2030.
Asd in November,2021, Hexion Holdings Corporation announced that as a result of its ongoing strategic review it had entered into a definitive agreement to sell its epoxy-based Coatings and Composite businesses, which includes the epoxy speciality resins and base epoxy resins and intermediates product lines (together, the “Epoxy Business”) for approximately US1.2bn to Westlake Chemical Corporation.
Based in Columbus, Ohio, Hexion Inc. is a global leader in thermoset resins. Hexion Inc. serves the global adhesive, coatings, and industrial markets through a broad range of thermoset technologies, specialty products and technical support for customers in a diverse range of applications and industries.
http://www.mrcplast.com/news-news_open-398607.html
January 26, 2022
Hexion Shareholders Approve Acquisition
Hexion shareholders approve acquisition by private equity firm January 26/2022 MOSCOW (MRC) — Hexion Holdings Corporation has announced that stockholders holding approximately 64.32% of the outstanding shares of common stock of the Company delivered to the Company written consents approving the proposed acquisition of the Company by affiliates of American Securities LLC, according to MorningStar.
Under and subject to the terms of the definitive merger agreement with affiliates of American Securities LLC, Hexion stockholders will be entitled to receive USD30.00 in cash for each share of common stock they own.
Hexion last month entered into a definitive agreement to be acquired by American Securities for USD2.06bn, including the assumption of around USD1.24bn in net debt, for a total enterprise value of around USD3.3bn.
The sale to American Securities, along with the earlier deal to sell its epoxy business to Westlake Chemical, concludes Hexion’s evaluation of strategic actions aimed at maximising shareholder value.
As MRC reported before, in July 2021, Hexion Inc., a major American manufacturer of phenol and bisphenol A (BPA), has recently announced that in order to help address climate change, it has committed to reduce absolute carbon emissions by 20% by 2030.
Asd in November,2021, Hexion Holdings Corporation announced that as a result of its ongoing strategic review it had entered into a definitive agreement to sell its epoxy-based Coatings and Composite businesses, which includes the epoxy speciality resins and base epoxy resins and intermediates product lines (together, the “Epoxy Business”) for approximately US1.2bn to Westlake Chemical Corporation.
Based in Columbus, Ohio, Hexion Inc. is a global leader in thermoset resins. Hexion Inc. serves the global adhesive, coatings, and industrial markets through a broad range of thermoset technologies, specialty products and technical support for customers in a diverse range of applications and industries.
http://www.mrcplast.com/news-news_open-398607.html
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