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M&A Deal Summary

Arkema Acquires PI Advanced Materials

On December 1, 2023, Arkema acquired chemicals company PI Advanced Materials from Glenwood Private Equity

Acquisition Highlights
  • This is Arkema’s 17th transaction in the Chemicals sector.
  • This is Arkema’s 1st transaction in South Korea.

M&A Deal Summary
Date 2023-12-01
Target PI Advanced Materials
Sector Chemicals
Buyer(s) Arkema
Sellers(s) Glenwood Private Equity
Deal Type Divestiture

Target

PI Advanced Materials

Seoul, South Korea
PI Advanced Materials (PIAM) is a producer of polyimide film for advanced industries such as display, semiconductors, and electric vehicles. PI Advanced Materials is based in Seoul, South Korea.

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Buyer(S) 1

Buyer

Arkema

Colombes, France
Category Company
Founded 2003
Sector Chemicals
Employees21,150
Revenue 9.5B EUR (2024)
DESCRIPTION

Arkema is a chemical producer. Arkema organized its activities into 3 complementary business segments: High Performance Materials: Technical polymers (Specialty polyamides and Fluoropolymers), Filtration and Adsorption (CECA), Organic Peroxydes, Specialty Adhesives (Bostik). Industrial Specialties: Thiochemicals, Fluorochemicals, PMMA (Altuglas International), Hydrogen Peroxides. Coating Solutions: Acrylics, Coating resins, Photocure resins (Sartomer) Rheology Additives (Coatex). Arkema was founded in 2003 and is based in Colombes, France.

DEAL STATS #
Overall 22 of 25
Sector: Chemicals M&A 17 of 19
Type: Divestiture M&A Deals 5 of 6
Country: South Korea M&A 1 of 1
Year: 2023 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-17 Polytec PT

Karlsbad, Germany

Polytec PT develops and manufactures thermal interface materials for batteries and engineering adhesives for the electronics market. It has developed a strong expertise in thermal interface materials which are key to enabling fast battery charging and efficient heat dissipation. Polytec PT is based in Karlsbad, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-14 Arc Building Products

Wicklow, Ireland

Arc Building Products specializing in tile adhesives, floor preparation systems, building chemicals and sealing & bonding solution. Arc Building Products is based in Wicklow, Ireland.

Buy -

Seller(S) 1

SELLER

Glenwood Private Equity

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2014
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Glenwood Private Equity is a private equity firm specializing in buyouts and corporate carve-outs across South Korea. Prospective transactions include leveraged buyouts, mezzanine and subordinated debt investments, and structured credit strategies that address both equity and financing needs. The Firm's sector expertise spans manufacturing, healthcare, and industrial services. Glenwood Private Equity was founded in 2014 and is headquartered in Seoul.

DEAL STATS #
Overall 1 of 1
Sector: Chemicals M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
Country: South Korea M&A 1 of 1
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-03 Invitros

Seoul, South Korea

Invitros is a healthcare company specializing in in-vitro diagnostics, particularly for allergy, tuberculosis and respiratory virus infection tests.

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