Arkema completes acquisition of Ashland's performance adhesives business

On February 28, 2022, Arkema completed the acquisition of the Ashland Performance Adhesives business, a premier U.
S.
leader in the performance adhesives industry
.
The operation marks an important step for Arkema to strengthen its Adhesive Solutions division and is fully in line with the Group's strategy to become a pure-play specialty materials producer by 2024
.

With its broad range of key technologies and well-known brands, Ashland Performance Adhesives is a major player in pressure-sensitive adhesives, especially in decorative, protective and signage films for automotive and construction
.
It also maintains leadership in structural adhesives and offers a broad range of adhesives for flexible packaging
.

Ashland's Performance Adhesives business employs approximately 330 people and operates six production facilities, primarily in North America, with projected 2021 sales of approximately $360 million and an EBITDA margin in excess of 25%
.
It has excellent commercial, technical and geographic complementarities with Bostik, enabling it to expand its solutions and position itself as a major player in high-performance industrial adhesives
.

Ashland's Performance Adhesives business is based on an enterprise value of $1.
65 billion, or 8.
7 times 2026 EBITDA, after accounting for expected growth over the next few years and synergies assessed at 12.
5% ​​of sales
.
A key milestone in Arkema's strong long-term growth ambitions, the acquisition enables Bostik, the company's adhesive solutions division, to target an EBITDA margin of over 17% by 2024
.

Thierry Le Hénaff, Chairman and CEO of Arkema, said: "We are very pleased to welcome the Ashland Performance Adhesives team to Arkema
.
I am confident that Bostik will benefit from this transaction to accelerate its attractive and high-growth applications
.
Our strengthened Adhesive Solutions segment will play a key role in achieving our goal of becoming a global leader in innovative materials
.
”

With its unique expertise in materials science, Arkema offers a best-in-class technology portfolio to meet the growing demand for novel and sustainable materials
.
In order to become a pure-play specialty materials producer in 2024, the group is divided into 3 complementary, flexible and highly innovative market segments dedicated to specialty materials - adhesive solutions, advanced materials and coating solutions - accounting for approximately 2021 of the group 85.
5% of sales, and a well-positioned and competitive intermediate segment
.
Arkema provides cutting-edge technological solutions to the challenges of new energy, water access, recycling, urbanization and mobility, and facilitates long-term communication with all stakeholders
.
Arkema reports 2021 sales of approximately 9.
5 billion euros, operates in approximately 55 countries and employs 20,200 people worldwide
.