PolyOne Signs Definitive Agreement to Acquire Clariant Color and Additive Masterbatch Business
December 22, 2019PolyOne Corporation, a leading global provider of specialized polymer materials, services and solutions, today announced that it has entered into an agreement with Clariant to purchase its global color and additive masterbatch business. In addition, PolyOne has entered into an agreement with Clariant Chemicals India Ltd. to purchase its color and additive masterbatch business [collectively, “the business” or “the acquisition” or “the transaction”].
The combined net purchase price is $1.45 billion (see Attachment 1), representing an 11.1x multiple of last twelve months adjusted EBITDA, or 7.6x including anticipated synergies.
“This will be a truly transformational acquisition for both PolyOne and Clariant customers and employees around the world. Together, we will benefit from the combined ingenuity, passion and expertise of two global leaders in color design, additive technologies and sustainable solutions,” said Robert M. Patterson, Chairman, President and Chief Executive Officer, PolyOne Corporation.