USA: 300 Million Dollar Transaction Acquisition of CVC by Huntsman Completed
The acquisition of CVC Thermoset Specialities by Huntsman is complete. The North American specialty chemical manufacturer serves the industrial composites, adhesives and coatings markets
The Woodlands/USA — Huntsman Corporation announced that it has completed the acquisition of CVC Thermoset Specialties. Huntsman acquired the business from Emerald Performance Materials, a majority-owned affiliate of American Securities, for approximately $ 300 million, subject to customary closing adjustments. The all-cash transaction was funded from available liquidity.
According to the company, the acquisition of CVC Thermoset Specialties, with its highly specialized toughening, curing and other additives used in a wide range of applications and markets, is strongly aligned with Huntsman's strategy of growing its specialty Advanced Materials portfolio. CVC Thermoset Specialties has annual revenues of approximately $ 115 million with manufacturing facilities located in Akron, Ohio, and Maple Shade, New Jersey.