December 8,HuntsmanGroupAnnounced that it has reached an agreement to acquireGabriel Functional Products Company, a subsidiary of Audax Private Equity Fund (hereinafter referred to as Gabriel).
Gabriel is a North American specialty chemicals manufacturer that produces specialty additives and epoxy curing agents for the coatings, adhesives, sealants and composites end markets. . Gabriel has three factories, located in Ashtabeuula, Ohio, Harrison, Pennsylvania, and Rock Hill, South Carolina. In 2019, Gabriel achieved revenue of approximately US$106 million.
Under the terms of the agreement, Huntsman will pay250 million US dollars for the acquisition, but the acquisition price may be subject to final adjustments based on changes in working capital and other factors. The transaction is an all-cash transaction, funded by the company’s available liquid assets. The acquisition price represents approximately 11 times 2019 adjusted EBITDA*, or approximately 8 times estimated adjusted EBITDA after accounting for synergies. The transaction is expected to close in the first quarter of 2021.
*EBITDA: Earnings before interest, taxes, depreciation and amortization
Dongguan Polyurethane Materials Co., Ltd. was established in 2009. Our company is an enterprise that combines production and trade, specializing in the production and compounding of various types of soft and hard foam amine catalysts; compounding various types of polyurethane anti- Yellowing agent, Antioxidant, Anti-heartburn agent,Polyurethane release agent; agent selling polyurethane soft foam silicone oil and other functional auxiliary materials. After nearly ten years of development, the company has made good progress in the field of polyurethane excipients. It has developed from an unknown company to a company with a certain reputation in the industry. Our company obtained the ISO9001 quality certification system in 2014. Hengjiu Stable product quality is the foundation for the company’s growth. The various types of polyurethane raw materials produced by our company basically use monomer raw materials from large international companies, and cooperate with Huntsman, Momentive, Dow Chemical, and Evonik Degussa We have relatively in-depth cooperation with international chemical giants such as BASF and BASF, which enables our company to have a relatively complete supply of auxiliary materials in the entire polyurethane raw material system. This is also the guarantee of the quality and reputation of our company’s products.
God rewards diligence, and business rewards trust. Keep moving forward amidst difficulties and challenges, we are committed to providing customers with cost-effective products and quality services
