Divestiture • Chemicals

Synthomer Acquires Eastman Chemical Co. - Adhesive Resins Business

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

Acquisition Context
  • 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.

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M&A Deal Summary

Date October 28, 2021
Target Eastman Chemical Co. - Adhesive Resins Business
Sector Chemicals
Buyer(s) Synthomer
Sellers(s) Eastman
Deal Type Divestiture
Deal Value 1.0B USD

Target Company

Eastman Chemical Co. - 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 Overview 1

Buyer

Synthomer

London, United Kingdom

Category Company
Founded 1863
Sector Chemicals
Employees4,000
Revenue 2.0B GBP (2024)
DESCRIPTION

Synthomer is a provider of latices and specialty emulsion polymers supporting leadership positions in many market segments, including coatings, construction, textiles, paper, and synthetic latex gloves. Synthomer was founded in 1863 and is based in London, England.


Deal Context for Buyer #
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 Profile 1

SELLER

Eastman

Kingsport, Tennessee, United States

Category Company
Founded 1920
Sector Chemicals
Employees14,000
Revenue 9.4B USD (2024)
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 Context for Seller #
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 -