Mergers & Acquisitions
March 4, 2021
More Acquisitions for Meridian Adhesives
Arsenal’s Meridian Adhesives Group acquires GENTEC and FT Polymer DALTON, Georgia, March 3, 2021 – Meridian Adhesives Group (Meridian) announced today the acquisition of GENTEC and FT Polymer, two European-based adhesive suppliers for the electronics, medical, aerospace and automotive industries.
The companies’ range of products include adhesives, encapsulants, coatings, UV-curing technology and dispensing equipment. The two companies will be joining Meridian’s Electronics Division and working directly with Epoxy Technology Europe under the guidance of Nicolas Schwarz, Managing Director.
“After years of working with GENTEC and FT Polymer, we are excited to have these two well-established companies joining Meridian,” said Schwarz. “I am looking forward to the expertise they will bring to our Electronics Division.”
Both GENTEC and FT Polymer have long-standing reputations as leading partners with Meridian’s Electronics Division, which is comprised of Epoxy Technology, Inc., Epoxy Technology Europe, and Epoxies, Etc. GENTEC currently serves Belgium, The Netherlands and Luxembourg, while FT Polymer serves France, Morocco, Tunisia and Algeria.
“GENTEC and FT Polymer are trusted names in the electronic adhesives market in Europe,” said Daniel Pelton, CEO of Meridian Adhesives Group. “Adding them to our fast-growing Electronics Division will only serve to strengthen our team and enhance our global footprint. We are pleased to have them join us.”
The Electronics Division of Meridian Adhesives Group provides high technology products with experienced technical support. Epoxy, urethane, silicone and UV materials that are manufactured by Epoxy Technology and Epoxies, Etc. have been used in some of the most demanding applications. These companies are trusted partners of organizations throughout the world.
About Meridian Adhesives Group Meridian Adhesives Group is a leading manufacturer of high-value adhesive technologies. With a broad portfolio of dynamic solutions, Meridian serves the electronics, infrastructure, flooring, packaging and product assembly markets. The group’s operations are located in the Americas and EMEA, with a multitude of sales/service offices worldwide that are positioned to serve Meridian’s global customer base. For more information, visit https://meridianadhesives.com.
About Arsenal Capital Partners Arsenal is a leading private equity firm that specializes in investments in middle-market specialty industrials and healthcare companies. Since its inception in 2000, Arsenal has raised institutional equity investment funds of $5.3 billion, has completed more than 200 platform and add-on investments, and achieved more than 30 realizations. Arsenal invests in industry sectors in which the firm has significant prior knowledge and experience. The firm works with management teams to build strategically important companies with leading market positions, high growth, and high value-add. Visit www.arsenalcapital.com.
March 1, 2021
Covestro Continues Systems House Divestitures
Covestro sells joint venture shares in Dubai systems house
Next step in ongoing portfolio optimization process
- Proceeds in the mid-single-digit million euro range
- Closing expected in the first half of 2021
- Systems house continues doing business independently, Covestro remains key supplier
On February 25, 2021, Covestro has signed an agreement on the sale of its 51 percent share in the joint venture Pearl Covestro Polyurethane Systems FZCO, which operates systems house business in Dubai (United Arab Emirates), to the current co-shareholder Pearl Industries Overseas Ltd. The sale will generate proceeds in the mid-single-digit million euro range. The divestment is part of Covestro’s ongoing portfolio optimization process and marks a further step in the strategic focusing of the Polyurethanes segment. Subject to regulatory approval, the closing is expected in the first half of 2021.
The joint venture was established under the former name BaySystems Pearl in Dubai (United Arab Emirates) in 2006 and has supplied Polyurethane Foam systems for several projects in the region. The systems house business will continue to operate as Pearl Polyurethane Systems after the transaction is concluded. Covestro will remain a key supplier of polyurethane raw materials based on the contract signed.
Covestro already sold its North American systems house business in 2017. In 2019, the sale of the European systems house business with sites in the Netherlands, Denmark, Spain, and Germany, as well as further businesses in Italy followed.
https://www.covestro.com/investors/news/covestro-sells-joint-venture-shares-in-dubai-systems-house/
March 1, 2021
Covestro Continues Systems House Divestitures
Covestro sells joint venture shares in Dubai systems house
Next step in ongoing portfolio optimization process
- Proceeds in the mid-single-digit million euro range
- Closing expected in the first half of 2021
- Systems house continues doing business independently, Covestro remains key supplier
On February 25, 2021, Covestro has signed an agreement on the sale of its 51 percent share in the joint venture Pearl Covestro Polyurethane Systems FZCO, which operates systems house business in Dubai (United Arab Emirates), to the current co-shareholder Pearl Industries Overseas Ltd. The sale will generate proceeds in the mid-single-digit million euro range. The divestment is part of Covestro’s ongoing portfolio optimization process and marks a further step in the strategic focusing of the Polyurethanes segment. Subject to regulatory approval, the closing is expected in the first half of 2021.
The joint venture was established under the former name BaySystems Pearl in Dubai (United Arab Emirates) in 2006 and has supplied Polyurethane Foam systems for several projects in the region. The systems house business will continue to operate as Pearl Polyurethane Systems after the transaction is concluded. Covestro will remain a key supplier of polyurethane raw materials based on the contract signed.
Covestro already sold its North American systems house business in 2017. In 2019, the sale of the European systems house business with sites in the Netherlands, Denmark, Spain, and Germany, as well as further businesses in Italy followed.
https://www.covestro.com/investors/news/covestro-sells-joint-venture-shares-in-dubai-systems-house/
February 15, 2021
Lanxess to Acquire Emerald Kalama
LANXESS signs contract to acquire Emerald Kalama Chemical
CologneFebruary 14, 2021
Specialty chemicals company LANXESS signed an agreement to acquire US-based Emerald Kalama Chemical from affiliates of American Securities LLC. Emerald Kalama Chemical is one of the leading global manufacturers of specialty chemicals especially for the consumer segment.
Emerald Kalama employs worldwide approximately 500 employees and runs three production sites. The company reported 2020 sales of around USD 425 million and EBITDA pre exceptionals of approximately USD 90 million. Around 45 percent of its turnover is generated in North America.
The enterprise value amounts to USD 1,075 million. The transaction will be financed by LANXESS existing liquidity. Closing of the transaction is anticipated in the second half of 2021 and subject to the approval of the relevant regulatory authorities.
By acquiring Emerald Kalama Chemical, LANXESS strengthens its specialty chemical portfolio especially in the Consumer Protection segment and would materially expand into the growth markets food and animal nutrition.
February 15, 2021
Lanxess to Acquire Emerald Kalama
LANXESS signs contract to acquire Emerald Kalama Chemical
CologneFebruary 14, 2021
Specialty chemicals company LANXESS signed an agreement to acquire US-based Emerald Kalama Chemical from affiliates of American Securities LLC. Emerald Kalama Chemical is one of the leading global manufacturers of specialty chemicals especially for the consumer segment.
Emerald Kalama employs worldwide approximately 500 employees and runs three production sites. The company reported 2020 sales of around USD 425 million and EBITDA pre exceptionals of approximately USD 90 million. Around 45 percent of its turnover is generated in North America.
The enterprise value amounts to USD 1,075 million. The transaction will be financed by LANXESS existing liquidity. Closing of the transaction is anticipated in the second half of 2021 and subject to the approval of the relevant regulatory authorities.
By acquiring Emerald Kalama Chemical, LANXESS strengthens its specialty chemical portfolio especially in the Consumer Protection segment and would materially expand into the growth markets food and animal nutrition.
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