Ashland Mergers and Acquisitions Summary

ChemicalsCompany

Ashland has acquired 8 companies, including 1 in the last 5 years. A total of 2 acquisitions came from private equity firms. It has also divested 11 assets.

Ashland’s largest acquisition to date was in 2008, when it acquired Hercules for $3.3B. It’s largest disclosed sale occurred in 2014, when it sold Solenis to Clayton Dubilier & Rice for $1.8B. Ashland has acquired in 6 different US states, and 2 countries. The Company’s most targeted sectors include chemicals (86%) and oil/gas exploration (15%).

Join Mergr and gain access to Ashland’s M&A summary, the M&A summaries of companies just like it, as well as recent M&A activity in the chemicals sector.

M&A Summary

  • M&A Total Activity18
    • M&A Buy Activity7
    • M&A Sell Activity11
  • Total Sectors Invested 2
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 15
  • M&A Advisors 5

Ashland

Ashland Global Holdings Inc.

50 East RiverCenter Boulevard,
Covington, Kentucky 41012
United States,
(859) 815-3333
www.ashland.com

Ashland is a global specialty chemicals company. Ashland has three reportable segments: Specialty Ingredients, Performance Materials and Valvoline. Specialty Ingredients is a global provider of cellulose ethers, vinyl pyrrolidones and biofunctionals. Performance Materials is composed of two divisions: Composites and Intermediates/Solvents. Performance Materials is a global provider of unsaturated polyester resins and vinyl ester resins. The business unit has positions in gelcoats, maleic anhydride, butanediol, tetrahydrofuran, N-Methylpyrrolidone and other intermediates and solvents. Valvoline is a worldwide producer and distributor of premium-branded automotive, commercial and industrial lubricants and automotive chemicals. Ashland was formed in 1924 and is based in Covington, Kentucky.


M&A Summary

Buy vs Sell

Year ≤ '17 '18 '19 '20 '21 '22 T
Buy (0.2/yr) # 6 - - - 1 - 7
vol $6.7B $296M $7.0B
Sell (0.6/yr) # 8 1 - 1 1 - 11
vol $4.3B $1.1B $100M $1.7B $7.1B
  18

Most Recent M&A

Company Date Value Type
Ashland Global Holdings Inc. - Performance Adhesives Business 2021-08-31 1.7B USD Divestiture
Covington, Kentucky
Schülke & Mayr GmbH - Personal Care Business 2021-01-19 296M EUR Divestiture
Norderstedt, Germany
Ashland, Inc. - Maleic Anhydride Business 2020-07-27 100M USD Divestiture
Neal, West Virginia
Ashland, Inc. - Composites Business & Butanediol Facility 2018-11-15 1.1B USD Divestiture
Covington, Kentucky
Valvoline LLC 2016-09-22 - Spin Off
Lexington, Kentucky · www.valvoline.com
OCH International, Inc. 2015-12-11 - Add-on Acquisition
Portland, Oregon · www.oilcanhenrys.com
Ashland - Elastomers Business 2014-10-09 - Divestiture
Port Neches, Texas
Solenis LLC 2014-02-18 1.8B USD Divestiture
Wilmington, Delaware · www.solenis.com
Ashland - Vinac & Flexbond Buisness 2012-01-03 - Divestiture
, United States
International Specialty Products, Inc. 2011-08-23 3.2B USD Add-on Acquisition
Wayne, New Jersey
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Ashland Specialty Ingredients Co.    - Integrated Botanical Technologies, LLC (Zeta Fraction) 2015-07-02 1
Dublin, Ohio Ossining, New York · www.i-botanicals.com

M&A by Sector

Sector Buy # Value Sell # Value
Chemicals 6 (86%) 7.0B (100%) 9 (82%) 4.8B (68%)
Oil/Gas Exploration 1 (14%) - - -
Construction - - 1 (9%) 1.3B (18%)
Distribution - - 1 (9%) 979M (14%)
Total 7 $7.0B 11 $7.1B

By Geo

State/Country Buy Value Sell Value
United States 6 6.7B 11 7.1B
  Kentucky - - 3 2.8B
  New Jersey 1 3.2B 1 120M
  Delaware 1 3.3B 1 1.8B
  Texas - - 2 979M
  Georgia - - 2 1.4B
  Wisconsin 1 72M - -
  Oregon 1 - - -
  Ohio 1 - - -
  West Virginia - - 1 100M
Germany 1 296M - -
Domestic 6 (86%) 6.7B (96%) 11 (100%) 7.1B (100%)
Cross-border 1 (14%) 296M (4%) - -
Total 7 $7.0B 11 $7.1B

Top M&A Advisors

Financial Deals
Citigroup Investment Banking
4
Bank of America Merrill Lynch (BofA Securities)
1
Legal Deals
Cravath, Swaine & Moore LLP
3
Squire Patton Boggs
2
Squire Sanders
1

Deal Values

buy # Total
> $1B 2 $6.5B
$100M to $1B 1 $296M
< $100M 2 $164M
TOTAL $7.0B
Largest Hercules, Inc.
$3.3B (2008-07-11)
sell # Total
> $1B 4 $5.9B
$100M to $1B 2 $1.1B
< $100M 2 $175M
TOTAL $7.1B
Largest Solenis LLC
$1.8B (2014-02-18)

M&A Connections

Deals
Acquired from
Investor(s)
14%
1 (14%)
Strategic(s)
29%
2 (29%)
Divested to
Investor(s)
27%
3 (27%)
Strategic(s)
55%
6 (55%)

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