Chase Company (NYSE American: CCF), a Westwood, MA-based mostly worldwide producer of protecting resources for significant-dependability purposes throughout numerous market place sectors, entered into a definitive agreement to purchase NuCera Options, from SK Cash, a personal fairness agency headquartered in New York.
Led by Steven McKeown, Chief Executive Officer, NuCera is a Houston, Texas-centered chief in the advancement and manufacture of really differentiated specialty polymers for marketplaces that require superior high quality and overall performance: Adhesives, Coatings, Imaging, Masterbatches, Individual Treatment, Plastics and other customer programs. The enterprise provides effectiveness chemistry to world marketplaces from its remarkably flexible producing amenities in Barnsdall, Ok which are supported by R&D and applications laboratories as nicely as pilot plant amenities. NuCera is headquartered in Houston, Texas with its primary creation facility based mostly in Barnsdall, Oklahoma and added worldwide revenue places of work in France and Singapore. The firm employs about 130 people globally.
NuCera will be obtained for a invest in value of $250 million, pending any performing capital changes and excluding acquisition-related costs. The purchase will be funded by making use of Chase’s existing revolving credit rating facility and out there money on hand. The transaction is expected to close by the finish of the 3rd calendar quarter of 2022, issue to customary closing conditions and regulatory approvals. Chase expects this acquisition to be accretive to earnings in the 1st yr of ownership. Chase will be modestly levered (~1.2x professional-forma web leverage) publish acquisition and maintains ongoing economic overall flexibility.
The acquisition will enable Chase to expand Chase’s world arrive at into new blue-chip clients and desirable large-growth conclusion marketplaces these kinds of as individual treatment, polymer additives, coatings, diversified purchaser merchandise and masterbatches. In addition, the firm expects to have meaningful long-expression synergy prospects. Chase will keep on to marketplace below NuCera brands and the organization will be built-in into Chase’s Adhesives, Sealants and Additives reporting unit.
Launched in 1946 and led by Adam P. Chase, President and Chief Executive Officer, Chase Corporation is a global specialty chemical compounds company and a manufacturer of protecting elements for significant-dependability programs during the earth.
FinSMEs
19/07/2022