Mergers & Acquisitions
July 20, 2021
Carlisle to Acquire Henry Co.
Carlisle Cos. inks agreement for $1.6B California acquisition
In This Article
By Brandon Brown – Reporter, Phoenix Business Journal Jul 19, 2021, 6:30pm EDT
Global manufacturing firm Carlisle Cos. Inc. (NYSE: CSL) announced Monday that it has entered into an agreement to acquire a building envelope systems (BES) provider for $1.575 billion.
Carlisle will purchase El Segundo, California-based Henry Co. from private equity firm American Securities LLC. BES products help keep the weather on the outside of the building and the conditioned environment inside — everything from the roof and walls to underground waterproofing measures. Henry, which was founded more than 80 years ago, provides products that control the flow of water, vapor, air and energy in commercial and residential buildings.
Henry employs more than 600 people and has 15 manufacturing facilities across the U.S. and Canada. Carlisle said it will keep Henry’s current leadership in place after the acquisition is finalized.
Henry will now be part of Carlisle’s construction materials (CCM) portfolio of businesses. Carlisle already manufactures dozens of building envelope solutions products.
The deal is expected to close in the third quarter of 2021.
Headquartered in Phoenix along the western edge of Scottsdale since 2016 after relocating from Charlotte, North Carolina, Carlisle manufactures all sorts of products at 180 different sites across the globe. In 2020, the company generated $4.2 billion in revenue.
That transaction was done in cash and represented more than 10-times Henry’s adjusted EBITDA for the twelve-month period of June 1, 2020, to May 31, 2021.
The Henry acquisition plays a few roles in Carlisle’s larger goals, Chairman, President and CEO Chris Koch said in a statement. Carlisle wants to get achieve $8 billion in annual revenue and $15 of earnings per share by 2025. Carlisle plans on achieving that goal through a process of strategic and synergistic acquisitions.
Koch also said this acquisition helps with Carlisle’s ambitious environmental, social and governance – or ESG – goals.
“More than half of Henry’s revenue is derived from products that improve energy efficiency, elevating Carlisle’s existing ESG narrative,” Koch said in a statement. “By acquiring Henry and leveraging the Carlisle Experience across the business, I am confident that we will create significant value for all our stakeholders.”
Despite the global selloff that struck Wall Street due to concerns over the spread of Covid-19 variants amid worries about gaps in vaccination coverage, Carlisle shares were relatively unscathed Monday on the news of the acquisition, losing $2.25 or 1.1% to close at $191.33. The stock was trending slightly higher in early after-hours trading. Track the stock here.
https://www.bizjournals.com/phoenix/news/2021/07/19/carlisle-cos-makes-1-6b-acquisition.html
July 19, 2021
Akrochem Acquires Bech Chem
Akrochem Acquires Bech Chem, Expands Into the Paint and Coatings Industry
Acquisition positions Akrochem for future growth while providing enhanced support levels for Bech Chem customers Press Release – updated: Jul 19, 2021 08:00 EDT 
AKRON, Ohio, July 19, 2021 (Newswire.com) – Akrochem, a leading provider of rubber chemicals and compounding materials, today announced the acquisition of Bech Chem, LLC, a company with more than 25 years of experience in the worldwide chemical supply chain. The transaction is effective immediately, and Akrochem will continue to operate under its current name.
The purchase of Bech Chem, based in Houston, Texas, enables Akrochem to expand into new industries, as well as provide more extensive support services for Bech Chem customers.
“The acquisition of Bech Chem allows us to bring our over 90 years of experience in chemical distribution to new markets, specifically paints, coatings, and lubricants,” said Akrochem President and CEO Jay Silver. “With our experienced, 15-person technical sales staff and over 120 personnel in support roles, we will improve our value to Bech Chem customers while positioning Akrochem for future growth.”
Bech Chem served a number of markets, including paint and coatings, grease and lubricants, plastics, and chemical processing. Bech Chem’s outstanding reputation within the specialty chemical distribution industry was based on the exceptional service the company provided throughout the ordering process, as well as its exemplary technical sales and support. The result was strong relationships with high-quality suppliers throughout the world.
“Becoming part of the Akrochem family allows us to introduce our unique specialty product line to a much larger customer base,” said Bech Chem President Henrik Bech Poulsen. “We believe that we’ll be a perfect complement to Akrochem’s core markets.”
Akrochem’s broad line of rubber compounding products and innovative technical experience contribute to the success of organizations throughout the world. Akrochem works with its customers to optimize cure systems, improve chemical dispersion, and produce better batch uniformity to help companies become more profitable.
About Akrochem
Based in Akron, Ohio, Akrochem serves companies globally in the rubber, plastic, paint, coatings, and lubricant markets. Since the company’s founding in 1929, Akrochem’s goal has been to improve productivity for each of it customers. Akrochem provides a comprehensive assortment of compounding materials and color concentrates—from the basic to the most complex and customized—all supported by the industry’s best technical expertise and service. Akrochem promotes professionalism through its ISO-9001-2015 and National Association of Chemical Distributors (NACD) accreditations. Visit www.akrochem.com for more information.
July 19, 2021
Akrochem Acquires Bech Chem
Akrochem Acquires Bech Chem, Expands Into the Paint and Coatings Industry
Acquisition positions Akrochem for future growth while providing enhanced support levels for Bech Chem customers Press Release – updated: Jul 19, 2021 08:00 EDT
AKRON, Ohio, July 19, 2021 (Newswire.com) – Akrochem, a leading provider of rubber chemicals and compounding materials, today announced the acquisition of Bech Chem, LLC, a company with more than 25 years of experience in the worldwide chemical supply chain. The transaction is effective immediately, and Akrochem will continue to operate under its current name.
The purchase of Bech Chem, based in Houston, Texas, enables Akrochem to expand into new industries, as well as provide more extensive support services for Bech Chem customers.
“The acquisition of Bech Chem allows us to bring our over 90 years of experience in chemical distribution to new markets, specifically paints, coatings, and lubricants,” said Akrochem President and CEO Jay Silver. “With our experienced, 15-person technical sales staff and over 120 personnel in support roles, we will improve our value to Bech Chem customers while positioning Akrochem for future growth.”
Bech Chem served a number of markets, including paint and coatings, grease and lubricants, plastics, and chemical processing. Bech Chem’s outstanding reputation within the specialty chemical distribution industry was based on the exceptional service the company provided throughout the ordering process, as well as its exemplary technical sales and support. The result was strong relationships with high-quality suppliers throughout the world.
“Becoming part of the Akrochem family allows us to introduce our unique specialty product line to a much larger customer base,” said Bech Chem President Henrik Bech Poulsen. “We believe that we’ll be a perfect complement to Akrochem’s core markets.”
Akrochem’s broad line of rubber compounding products and innovative technical experience contribute to the success of organizations throughout the world. Akrochem works with its customers to optimize cure systems, improve chemical dispersion, and produce better batch uniformity to help companies become more profitable.
About Akrochem
Based in Akron, Ohio, Akrochem serves companies globally in the rubber, plastic, paint, coatings, and lubricant markets. Since the company’s founding in 1929, Akrochem’s goal has been to improve productivity for each of it customers. Akrochem provides a comprehensive assortment of compounding materials and color concentrates—from the basic to the most complex and customized—all supported by the industry’s best technical expertise and service. Akrochem promotes professionalism through its ISO-9001-2015 and National Association of Chemical Distributors (NACD) accreditations. Visit www.akrochem.com for more information.
June 28, 2021
RPM Acquires Dudick
RPM Acquires Dudick, Fortifies Performance Coatings Group
Contributor Zacks Equity Research Zacks Published Jun 8, 2021 10:35AM EDT
RPM International Inc.’s RPM subsidiary — Carboline — has acquired Dudick Inc., a high-performance coating, flooring systems and tank linings provider. However, the terms of the transaction have been kept under wraps.
This buyout of Dudick will enable Carboline to fortify its position in the secondary containment linings market with a well-recognized product. This deal will also expand its footprint worldwide.
Dudick, with annual revenues of $10 million, makes high-performance linings and secondary containment coatings. It provides solutions for corrosion resistance and chemical containment systems across a wide range of applications comprising food processing, steel production, chemical processing, pulp and paper, electronics, power as well as biological research labs.
Frank C. Sullivan, RPM chairman and CEO said, “Dudick will be a natural fit in our Performance Coatings Group, bringing with them a strong reputation for high-quality products and excellent service built under the leadership of Tom Dudick.”
Acquisitions to Drive Growth
Acquisitions have been an important part of RPM’s growth strategy. The company increased cash usage for investment activities by $53.8 million to $217.9 million in third-quarter fiscal 2021 from $164.1 million in the prior-year period. This upside was largely attributable to the significant acquisitions made by RPM during the first nine months of fiscal 2021. Notably, the company completed two acquisitions in March, shifting its focus on driving the top line.
The company made three buyouts in fiscal 2020, five in fiscal 2019 and seven in fiscal 2018. Acquisitions added 1.1% to net sales in fiscal 2020 and 1.4% in fiscal 2019. For the first nine months of fiscal 2021, acquisitions contributed 1.6% to sales.
https://www.nasdaq.com/articles/rpm-acquires-dudick-fortifies-performance-coatings-group-2021-06-08
June 28, 2021
RPM Acquires Dudick
RPM Acquires Dudick, Fortifies Performance Coatings Group
Contributor Zacks Equity Research Zacks Published Jun 8, 2021 10:35AM EDT
RPM International Inc.’s RPM subsidiary — Carboline — has acquired Dudick Inc., a high-performance coating, flooring systems and tank linings provider. However, the terms of the transaction have been kept under wraps.
This buyout of Dudick will enable Carboline to fortify its position in the secondary containment linings market with a well-recognized product. This deal will also expand its footprint worldwide.
Dudick, with annual revenues of $10 million, makes high-performance linings and secondary containment coatings. It provides solutions for corrosion resistance and chemical containment systems across a wide range of applications comprising food processing, steel production, chemical processing, pulp and paper, electronics, power as well as biological research labs.
Frank C. Sullivan, RPM chairman and CEO said, “Dudick will be a natural fit in our Performance Coatings Group, bringing with them a strong reputation for high-quality products and excellent service built under the leadership of Tom Dudick.”
Acquisitions to Drive Growth
Acquisitions have been an important part of RPM’s growth strategy. The company increased cash usage for investment activities by $53.8 million to $217.9 million in third-quarter fiscal 2021 from $164.1 million in the prior-year period. This upside was largely attributable to the significant acquisitions made by RPM during the first nine months of fiscal 2021. Notably, the company completed two acquisitions in March, shifting its focus on driving the top line.
The company made three buyouts in fiscal 2020, five in fiscal 2019 and seven in fiscal 2018. Acquisitions added 1.1% to net sales in fiscal 2020 and 1.4% in fiscal 2019. For the first nine months of fiscal 2021, acquisitions contributed 1.6% to sales.
https://www.nasdaq.com/articles/rpm-acquires-dudick-fortifies-performance-coatings-group-2021-06-08
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