{"id":15669,"date":"2020-03-17T08:49:32","date_gmt":"2020-03-17T08:49:32","guid":{"rendered":"https:\/\/www.compositestoday.com\/?p=15669"},"modified":"2020-03-17T08:59:00","modified_gmt":"2020-03-17T08:59:00","slug":"huntsman-acquires-cvc-thermoset-specialties","status":"publish","type":"post","link":"https:\/\/www.compositestoday.com\/2020\/03\/huntsman-acquires-cvc-thermoset-specialties\/","title":{"rendered":"Huntsman Acquires CVC Thermoset Specialties"},"content":{"rendered":"\n<p>Huntsman has announced it has reached an agreement to purchase CVC Thermoset Specialties, a North American speciality chemical manufacturer serving the industrial composites, adhesives and coatings markets.<\/p>\n\n\n\n<p>Under terms of the agreement, Huntsman will pay\u00a0$300 million, subject to customary closing adjustments, in an all-cash transaction funded from available liquidity. \u00a0Based on full-year 2019, the purchase price represents an adjusted EBITDA multiple of approximately 10 times, or between approximately 7 to 8 times pro forma for synergies, the lower multiple end being dependent upon normal growth market conditions.\u00a0 The transaction is expected to close around midyear of 2020.<\/p>\n\n\n\n<p>Founded in 1982, the company manufacture speciality products for high-performance thermoset systems including <a href=\"https:\/\/www.compositestoday.com\/tag\/epoxy\">epoxy resins<\/a>, reactive liquid polymers, epoxy-functional reactive modifiers, elastomer modified epoxy resins and curing agents, catalysts and accelerators.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><em>In these uncertain times, our financial strength will allow us to keep looking for these types of acquisitions, while at the same time maintain a conservative balance sheet and opportunistically repurchase shares<\/em><\/p><cite>Peter Huntsman, Chairman, President and CEO<\/cite><\/blockquote>\n\n\n\n<p>With manufacturing facilities in Akron, Ohio, and\u00a0Maple Shade, New Jersey CVC Thermoset Specialties has annual revenues of approximately\u00a0$115 million. Under terms of the agreement, <a href=\"https:\/\/www.compositesdirectory.com\/listing\/huntsman\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Huntsman (opens in a new tab)\">Huntsman<\/a> will pay\u00a0$300 million, subject to customary closing adjustments, in an all-cash transaction funded from available liquidity. Based on full-year 2019, the purchase price represents an adjusted EBITDA multiple of approximately 10 times, or between approximately 7 to 8 times pro forma for synergies, the lower multiple ends being dependent upon normal growth market conditions.\u00a0 The transaction is expected to close around midyear of 2020.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Huntsman has announced it has reached an agreement to purchase CVC Thermoset Specialties, a North American speciality chemical manufacturer serving the industrial composites, adhesives and coatings markets. Under terms of the agreement, Huntsman will pay\u00a0$300 million, subject to customary closing adjustments, in an all-cash transaction funded from available liquidity. \u00a0Based on full-year 2019, the purchase price represents an adjusted EBITDA multiple of approximately 10 times, or between approximately 7 to 8 times pro forma for synergies, the lower multiple end [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":15672,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[677,8],"tags":[115,711],"class_list":["post-15669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-acquisitions-industrial-news","category-industrial-news","tag-epoxy","tag-huntsman"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Huntsman Acquires CVC Thermoset Specialties - Composites Today<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.compositestoday.com\/2020\/03\/huntsman-acquires-cvc-thermoset-specialties\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Huntsman Acquires CVC Thermoset Specialties - Composites Today\" \/>\n<meta property=\"og:description\" content=\"Huntsman has announced it has reached an agreement to purchase CVC Thermoset Specialties, a North American speciality chemical manufacturer serving the industrial composites, adhesives and coatings markets. 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