M&A Deal Summary

Dow Acquires Circulus

On June 20, 2024, Dow acquired environmental company Circulus from Ara Partners

Acquisition Highlights
  • This is Dow’s 1st transaction in the Environmental sector.
  • This is Dow’s 6th transaction in the United States.
  • This is Dow’s 5th transaction in Texas.

M&A Deal Summary
Date 2024-06-20
Target Circulus
Sector Environmental
Buyer(s) Dow
Sellers(s) Ara Partners
Deal Type Add-on Acquisition

Target

Circulus

Houston, Texas, United States
Circulus utilizes cutting-edge technologies to transform olefin plastics into resins suitable for various commercial and industrial applications. Circulus is based in Houston, Texas.

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Buyer(S) 1

Buyer

Dow

Midland, Michigan, United States
Category Company
Founded 2018
Sector Chemicals
Employees37,800
Revenue 44.6B USD (2023)
DESCRIPTION
Dow Chemical's corporate headquarters in Midland, Michigan.
Dow Chemical's corporate headquarters in Midland, Michigan.

Dow produces specialty chemicals, advanced materials, agrosciences, and plastics and delivers a range of technology-based products and solutions to customers in sectors that include packaging, electronics, water, coatings, and agriculture. Dow was founded in 2018 and is based in Midland, Michigan.

DEAL STATS #
Overall 10 of 10
Sector (Environmental) 1 of 1
Type (Add-on Acquisition) 6 of 6
State (Texas) 5 of 5
Country (United States) 6 of 6
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-02 Dow - Packaging & Specialty Plastics segment

Midland, Michigan, United States

Dow's Packaging & Specialty Plastics segment includes Solvent-Based and Solventless Laminating Adhesives and Heat Seal Coating product portfolios. Dow's Packaging & Specialty Plastics segment is based in Midland, Michigan.

Sell $150M

Seller(S) 1

SELLER

Ara Partners

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 2017
Size Small
Type Sector Focused
DESCRIPTION

Ara Partners Group is an alternative asset manager focused on control investments in the industrial, chemicals, materials, and energy sectors. The Firm looks to invest in and build companies that will benefit from the transition to sustainable energy. Ara Partners Group was formed in 2017 and is headquartered in Houston, Texas.

DEAL STATS #
Overall 1 of 2
Sector (Environmental) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Texas) 1 of 2
Country (United States) 1 of 2
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-17 Paratus

Guernsey, United Kingdom

Paratus offers the world’s first renewable power, transition fuels and freight price-risk insurance policies to protect producers and consumers from excessive balance-sheet exposure. Paratus’ transparently priced policies eliminate the need for costly in-house trading capabilities, and the use of complex hedging products. Paratus is based in Guernsey, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-30 Priority Power

Arlington, Texas, United States

Priority Power is an independent energy management and consulting services firm to large commercial and industrial customers. PPM develops and implement strategies that mitigate risk and overcome сhallenges associated with managing energy data, supply, demand and delivery infrastructure. Priority Power was founded in 2001 and is based in Arlington, Texas.

Sell -
Mergr

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