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On February 20, 2020, Huntsman announced that it has completed the acquisition of Icynene-Lapolla.
Icynene-Lapolla is North America's leading manufacturer and distributor of spray polyurethane foam (SPF) thermal insulation materials for residential and commercial use.
Huntsman acquired this business from a subsidiary of FFL Partners, LLC for $350 million.
The transaction may be settled in accordance with customary adjustments, and the available liquidity will provide an all-cash transaction.
The acquisition of Icynene-Lapolla is consistent with Huntsman 's strategy of developing its downstream polyurethane business.
The combination of Icynene-Lapolla and Demilec (SPF business acquired by Huntsman in 2018) will create the world's leading supplier of spray foam products for commercial and residential insulation.
The acquisition will further strengthen Huntsman's leading position in energy-saving insulation technology and product portfolio, and provide customers with the best products.
In addition, it will use its extensive international company network to accelerate the globalization of SPF business.
Because Huntsman is able to digest a large amount of polyols and introduce lower-margin upstream polymeric MDI into a higher-margin and growing SPF product portfolio, this acquisition will generate huge synergies.
Polyurethane Icynene-Lapolla has an annual revenue of approximately 230 million Canadian dollars.
It has two manufacturing plants in Houston, Texas and Mississauga, Ontario, which produce SPF formulations and reflective roof coatings based on MDI , directly or through distributors Sell products to spraying machinery and other manufacturers.
Tony Hankins, President of the Huntsman Polyurethane Business Unit of Coatings , commented on the acquisition: "I am excited about the opportunity that Icynene-Lapolla will join our high-growth MDI polyurethane insulation business.
We are excited about the opportunity.
Together with our existing SPF business Demilec, we will create a world-leading SPF platform to provide residential and commercial property users with highly innovative energy-saving solutions.
"Peter Huntsman, Chairman, President and CEO of MDI Polyurethanes , added: "SPF is a very attractive growth business, and Icynene-Lapolla is recognized as a leader in the industry.
The acquisition of Icynene-Lapolla will strengthen our downstream Develop and further promote the globalization of our SPF technology.
The purchase price represents about 10 times the adjusted profit before interest, tax and amortization, or after calculating the synergy effect, about 7 times the adjusted profit before interest, tax and amortization.
After the merger business is now close to $ 500 million in revenue by the end of 2021, profit before interest, tax and amortization in the business SPF synergies will exceed $ 100 million.
" returns Ai Tu Bang , more Ai Tu Pradesh
Icynene-Lapolla is North America's leading manufacturer and distributor of spray polyurethane foam (SPF) thermal insulation materials for residential and commercial use.
Huntsman acquired this business from a subsidiary of FFL Partners, LLC for $350 million.
The transaction may be settled in accordance with customary adjustments, and the available liquidity will provide an all-cash transaction.
The acquisition of Icynene-Lapolla is consistent with Huntsman 's strategy of developing its downstream polyurethane business.
The combination of Icynene-Lapolla and Demilec (SPF business acquired by Huntsman in 2018) will create the world's leading supplier of spray foam products for commercial and residential insulation.
The acquisition will further strengthen Huntsman's leading position in energy-saving insulation technology and product portfolio, and provide customers with the best products.
In addition, it will use its extensive international company network to accelerate the globalization of SPF business.
Because Huntsman is able to digest a large amount of polyols and introduce lower-margin upstream polymeric MDI into a higher-margin and growing SPF product portfolio, this acquisition will generate huge synergies.
Polyurethane Icynene-Lapolla has an annual revenue of approximately 230 million Canadian dollars.
It has two manufacturing plants in Houston, Texas and Mississauga, Ontario, which produce SPF formulations and reflective roof coatings based on MDI , directly or through distributors Sell products to spraying machinery and other manufacturers.
Tony Hankins, President of the Huntsman Polyurethane Business Unit of Coatings , commented on the acquisition: "I am excited about the opportunity that Icynene-Lapolla will join our high-growth MDI polyurethane insulation business.
We are excited about the opportunity.
Together with our existing SPF business Demilec, we will create a world-leading SPF platform to provide residential and commercial property users with highly innovative energy-saving solutions.
"Peter Huntsman, Chairman, President and CEO of MDI Polyurethanes , added: "SPF is a very attractive growth business, and Icynene-Lapolla is recognized as a leader in the industry.
The acquisition of Icynene-Lapolla will strengthen our downstream Develop and further promote the globalization of our SPF technology.
The purchase price represents about 10 times the adjusted profit before interest, tax and amortization, or after calculating the synergy effect, about 7 times the adjusted profit before interest, tax and amortization.
After the merger business is now close to $ 500 million in revenue by the end of 2021, profit before interest, tax and amortization in the business SPF synergies will exceed $ 100 million.
" returns Ai Tu Bang , more Ai Tu Pradesh
