Eastman - M&A Summary and Business Overview

ChemicalsCompany

Eastman M&A Summary

Eastman has acquired 13 companies, including 4 in the last 5 years. A total of 4 acquisitions came from private equity firms. It has also divested 4 assets.

Eastman’s largest acquisition to date was in 2012, when it acquired Solutia for $4.8B. It’s largest disclosed sale occurred in 2021, when it sold Eastman Chemical - Adhesive Resins Business to Synthomer for $1.0B. Eastman has acquired in 7 different US states, and 5 countries. The Company’s most targeted sectors include chemicals (50%) and apparel/textiles (9%).

Eastman Business Overview

Where is Eastman headquartered?

Eastman is headquartered in Kingsport, Tennessee.

What is Eastman’s revenue?

Eastman disclosed revenue of 10,580M USD for 2022 and 10,476M USD for 2021.

How many employees does Eastman have?

Eastman has 14,500 employees.

What sector is Eastman in?

Eastman is a chemicals company.

When was Eastman founded?

Eastman was founded in 1920.

M&A Summary

  • M&A Total Activity16
    • M&A Buy Activity12
    • M&A Sell Activity4
  • Total Sectors Invested 7
  • Total Countries Invested 5
  • M&A Buy/Sell Connections 11
  • M&A Advisors 6

Eastman

Eastman Chemical Co.

200 South Wilcox Drive,
Kingsport, Tennessee 37662
United States,
(423) 229-2000
www.eastman.com

Eastman is a global specialty chemical company that produces a broad range of advanced materials, chemicals, and fibers. Eastman's businesses are managed through five segments including Additives & Functional Products, Adhesives & Plasticizers, Advanced Materials, Fibers, and Specialty Fluids & Intermediates. Eastman was incorporated in 1920 and is based in Kingsport, Tennessee.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.4/yr) # 10 - 2 - - - 12
vol $7.6B $7.6B
Sell (0.4/yr) # 2 - 2 - - - 4
vol $16M $1.0B $1.0B
  16

Most Recent M&A

Company Date Value Type
Eastman Chemical Co. - Adhesive Resins Business 2021-10-28 1.0B USD Divestiture
Kingsport, Tennessee
Matrix Films LLC 2021-09-13 - Add-on Acquisition
Holliston, Massachusetts
FlexSys, Inc. 2021-06-09 - Divestiture
Ann Arbor, Michigan · www.flexsys.com
3F Feed & Food SL 2021-04-29 - Add-on Acquisition
Avila, Spain · www.3ftec.com
Industrias del Acetato de Celulosa S.A. (INACSA) 2019-06-19 - Add-on Acquisition
Barcelona, Spain · www.inacsa.com
Sasol Ltd. - Marlotherm Business 2019-04-01 - Divestiture
, Germany
Dynaloy LLC 2017-07-11 13M USD Divestiture
Indianapolis, Indiana · www.dynaloy.com
Taminco Corp. 2014-09-11 2.8B USD Add-on Acquisition
Allentown, Pennsylvania · www.taminco.com
SunTek Holding Co, Inc. 2014-03-13 - Add-on Acquisition
Martinsville, Virginia · www.suntekfilms.com
BP plc - Aviation Turbine Oil Business 2014-01-28 - Divestiture
Linden, New Jersey
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Chemicals 6 (50%) 7.6B (100%) 3 (75%) 1.0B (100%)
Apparel/Textiles 1 (8%) - - -
Automotive 1 (8%) - - -
Distribution 1 (8%) - - -
Food 1 (8%) - - -
Manufacturing 1 (8%) - - -
Oil/Gas Exploration 1 (8%) - - -
Medical Products - - 1 (25%) 3M (< 1%)
Total 12 $7.6B 4 $1.0B

By Geo

State/Country Buy Value Sell Value
United States 7 7.6B 4 1.0B
  Indiana 1 - 1 13M
  Michigan - - 2 3M
  Virginia 1 - - -
  Pennsylvania 1 2.8B - -
  New Jersey 1 - - -
  Missouri 1 4.8B - -
  Massachusetts 1 - - -
  Illinois 1 - - -
  Tennessee - - 1 1.0B
Spain 2 - - -
Brazil 1 - - -
Germany 1 - - -
Singapore 1 - - -
Domestic 7 (58%) 7.6B (100%) 4 (100%) 1.0B (100%)
Cross-border 5 (42%) - - -
Total 12 $7.6B 4 $1.0B

Top M&A Advisors

Financial Deals
J.P. Morgan Securities
3
Citigroup Investment Banking
2
Barclays Investment Bank
1
Legal Deals
Jones Day
5

Deal Values

buy # Total
> $1B 2 $7.6B
TOTAL $7.6B
Largest Solutia, Inc.
$4.8B (2012-07-02)
sell # Total
> $1B 1 $1.0B
< $100M 2 $16M
TOTAL $1.0B
Largest Eastman Chemical Co. - Adhesive Resins Business
$1.0B (2021-10-28)

M&A Connections

Deals
Acquired from
Investor(s)
25%
3 (25%)
Strategic(s)
25%
3 (25%)
Divested to
Investor(s)
25%
1 (25%)
Strategic(s)
75%
3 (75%)

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