Industry Update: Specialty Chemicals

Industry Highlights

  • On February 3, 2021, Munich-based chemical company Wacker announced that it is acquiring 100 percent of the shares in pharmaceutical contract manufacturer Genopis Inc. from Helixmith Co Ltd, Seoul (South Korea) and Medivate Partners LLC, Seoul (South Korea). The total purchase price for the acquisition consists of a $39 million cash payment due upon closing as well as possible further performance-based payments under a so-called earn-out model.
  • On January 15, 2021, Huntsman Corporation announced it completed the acquisition of Gabriel Performance Products, a North American specialty chemical manufacturer of specialty additives and epoxy curing agents for the coatings, adhesives, sealants and composite end-markets, from Audax Private Equity. Huntsman paid $250 million (11x EBITDA), subject to customary closing adjustments, in an all-cash transaction funded from available liquidity.

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