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Huntsman: Acquires CVC Thermoset Specialties, Expands Specialty Chemicals Portfolio

 Last Update: 2022-08-22
 Source: Internet
 Author: User

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Huntsman Group announced yesterday that it has reached an agreement to acquire CVC Thermoset Specialty Materials

CVC Thermoset Specialty Materials has annual revenues of approximately $115 million and currently has two plants in Akron, Ohio, and Mapleshead, New Jersey

Under the terms of the agreement, Huntsman will pay $300 million for the acquisition, subject to final adjustments for working capital and other impacts

The acquisition price is equivalent to approximately 10 times adjusted EBITDA (earnings before interest, tax and amortization) for the full year of 2019, or approximately 7 to 8 times the estimated synergies, and the realization of the lower limit of synergies depends on the market conditions for stable growth

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Huntsman Group acquires CVC thermoset specialty materials company to expand specialty chemical portfolio

03-18

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Huntsman: Acquires CVC Thermoset Specialties, Expands Specialty Chemicals Portfolio

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Huntsman Group acquires CVC thermoset specialty materials company to expand specialty chemical portfolio