Huntsman completed the acquisition of Gabriel for

2022-07-29
  • Detail

Huntsman completed the acquisition of Gabriel and further expanded its special chemical product portfolio

Huntsman completed the acquisition of Gabriel and further expanded its special chemical product portfolio

january 21, 2021

, It has completed the transaction of acquiring Gabriel from audax private equity for its potential demand for rare earth nano materials, but there is a significant difference between the two performance products (Gabriel). Gabriel is a North American manufacturer of specialty chemicals, producing specialty additives and epoxy hardeners for the end markets of coatings, adhesives, sealants and composites

Huntsman paid US $250million, which was settled in accordance with the usual practice. This was an all cash transaction funded by available liquidity. Gabriel's revenue in 2019 was about US $106million. Its three manufacturing plants are located in ashtabella, Ohio, Harrison, Pennsylvania and Rockhill, South Carolina. Based on calendar year 2019, the purchase price is approximately 11 times adjusted EBITDA, or approximately 8 times the estimated synergies

when announcing the acquisition, Scott Wright, President of Huntsman advanced materials, said: "The acquisition of Gabriel has expanded the scope of our professional product portfolio, which is a low load supplement for our recent acquisition of CVC thermosetting professional products. At the same time, Gabriel focuses on the production of highly specialized toughening agents, curing agents and other additives, which are widely used in the application fields of composite materials, adhesives and coatings. It is expected that the global promotion of Gabriel special products will further improve our position in the North American market and bring significant Business synergy. This acquisition will also improve our ability to provide customers with differentiated products, because it can quickly and efficiently manufacture fine and complex three-dimensional structure, and enhance Huntsman's market competitiveness, so as to build a world-class formula business

Copyright © 2011 JIN SHI