Huntsman To Acquire CVC Thermoset Specialties For $300 Mln Cash - Quick Facts

(RTTNews) - Huntsman Corp. (HUN) agreed Monday to acquire CVC Thermoset Specialties, a North American specialty chemical manufacturer serving the industrial composites, adhesives and coatings markets.

CVC Thermoset Specialties is part of Emerald Performance Materials LLC which is majority owned by affiliates of American Securities LLC.

CVC Thermoset Specialties has annual revenues of approximately $115 million with two manufacturing facilities located in Akron, Ohio, and Maple Shade, New Jersey.

Under terms of the agreement, Huntsman will pay $300 million, subject to customary closing adjustments, in an all-cash transaction funded from available liquidity. The transaction is expected to close around midyear of 2020.

The acquisition adds valuable complementary technology breadth to Huntsman's Advanced Materials portfolio and its unique products will make systems using its class-leading epoxy-based materials even tougher, stronger, and more durable.