M&A Deal Summary

Synthomer Acquires Eastman Chemical - Adhesive Resins Business

On October 28, 2021, Synthomer acquired chemicals company Eastman Chemical - Adhesive Resins Business from Eastman for 1.0B USD

Acquisition Highlights
  • This is Synthomer’s 6th transaction in the Chemicals sector.
  • This is Synthomer’s largest (disclosed) transaction.
  • This is Synthomer’s 3rd transaction in the United States.
  • This is Synthomer’s 1st transaction in Tennessee.

M&A Deal Summary
Date 2021-10-28
Target Eastman Chemical - Adhesive Resins Business
Sector Chemicals
Buyer(s) Synthomer
Sellers(s) Eastman
Deal Type Divestiture
Deal Value 1.0B USD

Target

Eastman Chemical - Adhesive Resins Business

Kingsport, Tennessee, United States
Eastman Chemical Co.'s Adhesive Resins Business comprises hydrocarbon resins (including Eastman Impera tire resins), pure monomer resins, polyolefin polymers, rosins and dispersions, and oleochemical and fatty-acid based resins product lines.

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Buyer(S) 1

Buyer

Synthomer

London, United Kingdom

website

Category Company
Founded 1863
Sector Chemicals
Employees4,608
DESCRIPTION

Synthomer is one of the world’s major suppliers of latices and speciality emulsion polymers supporting leadership positions in many market segments including coatings, construction, textiles, paper and synthetic latex gloves. The company has its headquarters in Harlow, UK and provides customer focused services from operational centres in Marl, Germany and Kuala Lumpur, Malaysia. Synthomer was founded in 1863 and is based in London, the United Kingdom.

DEAL STATS #
Overall 7 of 7
Sector (Chemicals) 6 of 6
Type (Divestiture) 4 of 4
State (Tennessee) 1 of 1
Country (United States) 3 of 3
Year (2021) 1 of 1
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-03 OMNOVA Solutions

Beachwood, Ohio, United States

OMNOVA Solutions, Inc. is a manufacturer of emulsion polymers and specialty chemicals. OMNOVA was formed in 1999 and is based in Fairlawn, Ohio. OMNOVA Solutions was founded in 1999 and is based in Beachwood, Ohio.

Buy $473M

Seller(S) 1

SELLER

Eastman

Kingsport, Tennessee, United States

website

Category Company
Founded 1920
Sector Chemicals
Employees14,500
Revenue 10.6B USD (2022)
DESCRIPTION
Eastman Chemical plant in East St. Louis, Illinois.
Eastman Chemical plant in East St. Louis, Illinois.

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.

DEAL STATS #
Overall 4 of 4
Sector (Chemicals) 3 of 3
Type (Divestiture) 4 of 4
State (Tennessee) 1 of 1
Country (United States) 4 of 4
Year (2021) 2 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-13 Matrix Films

Holliston, Massachusetts, United States

Matrix Films is a marketer of PremiumShield performance films, including its extended line of automotive film patterns. Matrix Films is based in Holliston, Massachusetts.

Buy -
Mergr

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