Huntsman Completes Acquisition of CVC Thermoset Specialties
CVC Thermoset Specialties has annual revenues of approximately $115 million, with manufacturing facilities in Akron, Ohio, and Maple Shade, N.J.
Huntsman Corp. recently announced that it has completed its previously announced acquisition of CVC Thermoset Specialties, a North American specialty chemical manufacturer serving the industrial composites, adhesives, and coatings markets. Huntsman acquired the business from Emerald Performance Materials LLC, a majority-owned affiliate of American Securities LLC, for approximately $300 million, subject to customary closing adjustments. The all-cash transaction was funded from available liquidity.
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 reportedly 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 in Akron, Ohio, and Maple Shade, N.J.