M&A Deal Summary

Eastman Acquires BP - Aviation Turbine Oil Business

On January 28, 2014, Eastman acquired oil/gas exploration company BP - Aviation Turbine Oil Business from BP

Acquisition Highlights
  • This is Eastman’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Eastman’s 4th transaction in the United States.
  • This is Eastman’s 1st transaction in New Jersey.

M&A Deal Summary

Date 2014-01-28
Target BP - Aviation Turbine Oil Business
Sector Oil/Gas Exploration
Buyer(s) Eastman
Sellers(s) BP
Deal Type Divestiture

Target

BP - Aviation Turbine Oil Business

Linden, New Jersey, United States
BP's Aviation Turbine Oil Business includes a production facility in Linden, NJ, specialized laboratory equipment located in Naperville, IL, and a long-term supply agreement for products related to the acquired business that BP will use to serve industrial markets.

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Buyer(S) 1

Buyer

Eastman

Kingsport, Tennessee, United States

Category Company
Founded 1920
Sector Chemicals
Employees14,000
Revenue 9.2B USD (2023)
DESCRIPTION
Eastman Chemical plant in East St. Louis, Illinois.
Eastman Chemical plant in East St. Louis, Illinois.

Eastman is a 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 fouded in 1920 and is based in Kingsport, Tennessee.


DEAL STATS #
Overall 6 of 12
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 2 of 3
State (New Jersey) 1 of 1
Country (United States) 4 of 7
Year (2014) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-02 Solutia

St Louis, Missouri, United States

Solutia is a market-leading performance materials and specialty chemicals company. The company focuses on providing solutions for a better life through a range of products, including: Saflex® polyvinyl butyral interlayers for glass lamination and for photovoltaic module encapsulation and VISTASOLAR® ethylene vinyl acetate films for photovoltaic module encapsulation.

Buy $4.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-13 Commonwealth Laminating & Coating

Martinsville, Virginia, United States

SunTek Holding Co. is a designer, manufacturer and distributor of window film to the automotive, residential and commercial markets. The company employs state-of-the-art manufacturing methods and equipment to produce a broad line of window film products, which it distributes directly to dealers through centers in Martinsville, Houston, Phoenix and Dania Beach, Florida. The Company also accesses the international market via a network of established distributors.

Buy -

Seller(S) 1

SELLER

BP

London, United Kingdom

Category Company
Founded 1908
Sector Oil/Gas Exploration
Employees87,800
Revenue 210.1B USD (2023)
DESCRIPTION
BP fuel station in Duluth, Minnesota.
BP fuel station in Duluth, Minnesota.

BP is an integrated oil and gas company with operations in Europe, the US, Canada, Russia, South America, Australasia, Asia and parts of Africa. BP provides customers with fuel for transportation, energy for heat and light, lubricants, and petrochemicals products used to make items as diverse as paints, clothes and packaging. BP was founded in 1908 and is based in London, England.


DEAL STATS #
Overall 8 of 16
Sector (Oil/Gas Exploration) 4 of 8
Type (Divestiture) 7 of 9
State (New Jersey) 1 of 1
Country (United States) 5 of 10
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-04 BP Polish LPG business

Poland

BP’s Polish LPG business distributed over 150 million gallons of LPG in 2012 serving the residential, commercial, autogas, and wholesale segments.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-02 The Amsterdam terminal

Netherlands

The Amsterdam terminal is strategically located on the North Sea Canal in the Amsterdam, Rotterdam and Antwerp (“ARA”) region. The ARA region represents the largest concentration of refining capacity in Europe and one of the largest refined product trading hubs in the world.The Amsterdam terminal has storage capacity of more than six million barrels for gasoline, ethanol, middle distillates, biodiesel, kerosene and liquefied petroleum gas with capabilities for sophisticated blending. The terminal has connectivity for ocean vessels, inland waterways and trucks, and deep draft to service oceangoing tankers up to 135,000 tons with multiple berths for barges and ships. The Amsterdam terminal also has significant room for expansion projects.

Sell -