Mergers & Acquisitions
February 9, 2021
Bain to Buy Lonza Anti-Microbials Unit
Bain Capital, Cinven buy Lonza unit in $4.67B deal
Published: Feb. 9, 2021 at 2:18 a.m. ET By
Pietro Lombardi
Private equity firms Bain Capital LLC and Cinven Group Ltd. have reached an agreement with Lonza Group AG to buy the Swiss life-sciences company’s specialty ingredients business for an enterprise value of 4.2 billion Swiss francs ($4.67 billion).
The unit, which has 17 manufacturing sites across the world and roughly 2,800 permanent employees, is specialized in microbial control solutions for products in the professional-hygiene and personal-care markets, as well as chemicals used in electronics, aerospace and other industries, the seller said late Monday.
“The sale of the Specialty Ingredients business will allow Lonza to focus on its position as a leading partner to the healthcare industry, and the free cash flows resulting from the sale will allow us to accelerate our strategic priorities,” Lonza Chairman Albert Baehny said.
The deal should be completed in the second part of the year.
https://www.marketwatch.com/story/bain-capital-cinven-buy-lonza-unit-in-467b-deal-2021-02-09
February 9, 2021
Bain to Buy Lonza Anti-Microbials Unit
Bain Capital, Cinven buy Lonza unit in $4.67B deal
Published: Feb. 9, 2021 at 2:18 a.m. ET By
Pietro Lombardi
Private equity firms Bain Capital LLC and Cinven Group Ltd. have reached an agreement with Lonza Group AG to buy the Swiss life-sciences company’s specialty ingredients business for an enterprise value of 4.2 billion Swiss francs ($4.67 billion).
The unit, which has 17 manufacturing sites across the world and roughly 2,800 permanent employees, is specialized in microbial control solutions for products in the professional-hygiene and personal-care markets, as well as chemicals used in electronics, aerospace and other industries, the seller said late Monday.
“The sale of the Specialty Ingredients business will allow Lonza to focus on its position as a leading partner to the healthcare industry, and the free cash flows resulting from the sale will allow us to accelerate our strategic priorities,” Lonza Chairman Albert Baehny said.
The deal should be completed in the second part of the year.
https://www.marketwatch.com/story/bain-capital-cinven-buy-lonza-unit-in-467b-deal-2021-02-09
February 8, 2021
Polytek Acquires Endurance Technologies
Arsenal’s Polytek Acquires Endurance Technologies Easton, PA & South St. Paul, MN – February 3, 2021 –
Polytek® Development Corp. (“Polytek”), a manufacturer of specialty polymers for mold making, casting, and coating applications, announced today the acquisition of Endurance Technologies. Polytek is a portfolio company of Arsenal Capital Partners.
Based in South St. Paul, Minnesota, Endurance Technologies has decades of formulation and manufacturing experience with a strong focus on polyurethane and epoxy systems. Their brands are well-known throughout industrial and consumer sectors, with formulations for coating, laminating, bonding, casting and molding. Endurance Technologies’ industrial brand, Custom Polymer Designs, is a trusted name in marine, aerospace, construction, and recreational composites, while their consumer brands, including MAS Epoxies, are popular in do-it-yourself, art, and craft communities.
Doug Lorenz, CEO of Polytek, commented “Endurance Technologies has a proven track record of success and market growth built on superior product quality, custom solutions, and hands-on technical support. The companies share similar objectives and values and together we’re really looking forward to showing our customers the benefit of this collaboration.”
The addition of Endurance Technologies further expands Polytek’s manufacturing locations and capabilities and elevates their technical proficiency with the integration of seasoned research and development teams. This collaboration will provide Polytek and Endurance Technologies customers with a broader product portfolio, increased technical support and customer service, and product accessibility. David Hoeffel, owner of Endurance Technologies added, “Polytek is a great fit for the next chapter of our business. Our team is excited to join forces and work on initiatives that will expand product options and support services for our customers.” The two companies will continue to do business under their existing names, and Hoeffel will remain in an active role within the Endurance Technologies brand as well as support broader initiatives within the Polytek organization.
Genesis Capital, LLC acted as the financial advisor to Polytek.
February 8, 2021
Polytek Acquires Endurance Technologies
Arsenal’s Polytek Acquires Endurance Technologies Easton, PA & South St. Paul, MN – February 3, 2021 –
Polytek® Development Corp. (“Polytek”), a manufacturer of specialty polymers for mold making, casting, and coating applications, announced today the acquisition of Endurance Technologies. Polytek is a portfolio company of Arsenal Capital Partners.
Based in South St. Paul, Minnesota, Endurance Technologies has decades of formulation and manufacturing experience with a strong focus on polyurethane and epoxy systems. Their brands are well-known throughout industrial and consumer sectors, with formulations for coating, laminating, bonding, casting and molding. Endurance Technologies’ industrial brand, Custom Polymer Designs, is a trusted name in marine, aerospace, construction, and recreational composites, while their consumer brands, including MAS Epoxies, are popular in do-it-yourself, art, and craft communities.
Doug Lorenz, CEO of Polytek, commented “Endurance Technologies has a proven track record of success and market growth built on superior product quality, custom solutions, and hands-on technical support. The companies share similar objectives and values and together we’re really looking forward to showing our customers the benefit of this collaboration.”
The addition of Endurance Technologies further expands Polytek’s manufacturing locations and capabilities and elevates their technical proficiency with the integration of seasoned research and development teams. This collaboration will provide Polytek and Endurance Technologies customers with a broader product portfolio, increased technical support and customer service, and product accessibility. David Hoeffel, owner of Endurance Technologies added, “Polytek is a great fit for the next chapter of our business. Our team is excited to join forces and work on initiatives that will expand product options and support services for our customers.” The two companies will continue to do business under their existing names, and Hoeffel will remain in an active role within the Endurance Technologies brand as well as support broader initiatives within the Polytek organization.
Genesis Capital, LLC acted as the financial advisor to Polytek.
January 30, 2021
Stepan Acquires Invista’s Aromatic Polyester Polyol Biz
Stepan Announces Acquisition of Aromatic Polyester Polyol Business from INVISTA
Fri, January 29, 2021, 6:09 PM·5 min read
NORTHFIELD, Ill., Jan. 29, 2021 /PRNewswire/ — Stepan Company (NYSE: SCL) today announced that it has purchased INVISTA’s aromatic polyester polyol business and associated assets. Included in the transaction are two manufacturing sites, one in Wilmington, NC (United States) and the other in Vlissingen (the Netherlands), and intellectual property, customer relationships, inventory and working capital. The business acquired has global sales of approximately $100 million. This acquisition was financed with cash on hand and is expected to be accretive to Stepan’s EBITDA margins.
“We are excited to add INVISTA’s polyester polyol capabilities to Stepan. This acquisition expands our manufacturing capability in both the United States and Europe, enhances our business continuity capabilities for the market and supports the growth of our global rigid polyol business. We expect that INVISTA’s available spare capacity, plus debottlenecking opportunities in both plants, will allow Stepan to support market growth in a capital efficient way,” said F. Quinn Stepan, Jr. Chairman and Chief Executive Officer of Stepan. “We believe the long-term prospects for rigid polyol use in insulation remain strong as energy conservation efforts and more stringent building codes should continue to drive market growth. Additionally, we believe the acquired technology will accelerate our product leadership initiatives, drive manufacturing efficiencies and output, and create increased value for the overall market. We look forward to providing the highest level of service to our new customers and are excited to add the new employees and the two new sites to our global polyester polyol manufacturing network.”
Management will provide more perspective on this acquisition as part of Stepan Company’s fourth quarter and full year 2020 results conference call on February 18, 2021.
https://finance.yahoo.com/news/stepan-announces-acquisition-aromatic-polyester-230900320.html
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