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Divestiture • Chemicals

Specialty Materials Acquires Textron - Composite Material Products Business

On December 17, 2001, Specialty Materials acquired chemicals company Textron - Composite Material Products Business from Textron

Acquisition Context
  • This is Specialty Materials’ 1st transaction in the Chemicals sector.
  • This is Specialty Materials’ 1st transaction in the United States.
  • This is Specialty Materials’ 1st transaction in Massachusetts.

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M&A Deal Summary
Date December 17, 2001
Target Textron - Composite Material Products Business
Sector Chemicals
Buyer(s) Specialty Materials
Sellers(s) Textron
Deal Type Divestiture

Target Company

Textron - Composite Material Products Business

Lowell, Massachusetts, United States
Textron - Composite Material Products Business develops, manufactures and markets engineered materials such as continuous boron and silicon carbide filaments to the aerospace, defense, industrial and sports markets. Company is based in Lowell, MA and employs 28 people. The company's 2000 annual revenues were approximately $6.4 million.
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Buyer Overview 1

Buyer

Specialty Materials

Lowell, Massachusetts, United States
Category Company
Founded 2001
Sector Chemicals
DESCRIPTION

Specialty Materials, Inc. is a manufacturer of Boron and silicon carbide fiber products used primarily to reinforce advanced composite materials, and boron nanopowder for conversion to magnesium diboride. Company fibers are known throughout the world and used in aircraft, aerospace, sporting goods and industrial applications where the highest mechanical and physical performance properties are required. ISO 9001:2008 CERTIFIED.

Deal Context for Buyer #
Overall 1 of 1
Sector: Chemicals 1 of 1
Type: Divestiture 1 of 1
State: Massachusetts 1 of 1
Country: United States 1 of 1
Year: 2001 1 of 1

Seller Profile 1

SELLER

Textron

Providence, Rhode Island, United States
Category Company
Founded 1923
Sector Diversified
Employees34,000
Revenue 13.7B USD (2024)
DESCRIPTION
Textron's corporate headquarters in downtown Providence, Rhode Island.
Textron's corporate headquarters in downtown Providence, Rhode Island.

Textron is a multi-industry company that leverages a global network of aircraft, defense, industrial and finance businesses to provide customers with products and services around the world. Textron was founded in 1923 and is based in Providence, Rhode Island.

Deal Context for Seller #
Overall 7 of 16
Sector: Chemicals 1 of 1
Type: Divestiture 7 of 15
State: Massachusetts 1 of 1
Country: United States 7 of 14
Year: 2001 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-08-14 Textron - DIY

United States

Textron - DIY (Do-It-Yourself) is a distributor of fastening hardware, picture and mirror hanging hardware and accessories to the do-it-yourself retail market.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-06-26 Camelin Decolletage Industries

Besancon, France

Camelin produces components for car braking and interior safety systems, as well as for domestic appliances.

Sell -

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