M&A Deal Summary

Westlake Acquires Hexion - Global Epoxy Business

On November 24, 2021, Westlake acquired chemicals company Hexion - Global Epoxy Business from Hexion for 1.2B USD

Acquisition Highlights
  • This is Westlake’s 3rd transaction in the Chemicals sector.
  • This is Westlake’s 3rd largest (disclosed) transaction.
  • This is Westlake’s 6th transaction in the United States.
  • This is Westlake’s 2nd transaction in Ohio.

M&A Deal Summary
Date 2021-11-24
Target Hexion - Global Epoxy Business
Sector Chemicals
Buyer(s) Westlake
Sellers(s) Hexion
Deal Type Divestiture
Deal Value 1.2B USD

Target

Hexion - Global Epoxy Business

Columbus, Ohio, United States
Hexion's Global Epoxy Business is manufacturing and developing specialty resins, coatings, and composites for a variety of industries, including high-growth and sustainability-oriented end-uses such as wind turbine blades and light-weight automotive structural components. Hexion's Global Epoxy Business is based in Columbus, Ohio.

Search 201,292 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

Westlake

Houston, Texas, United States
Category Company
Founded 1986
Sector Chemicals
Employees15,520
Revenue 12.5B USD (2023)
DESCRIPTION
Westlake Chemical's corporate headquarters in Houston, Texas.
Westlake Chemical's corporate headquarters in Houston, Texas.

Westlake manufactures and markets basic chemicals, vinyls, polymers, and fabricated building products. It operates through two segments, Olefins and Vinyls. Westlake was founded in 1986 and is based in Houston, Texas.

DEAL STATS #
Overall 9 of 9
Sector (Chemicals) 3 of 3
Type (Divestiture) 3 of 3
State (Ohio) 2 of 2
Country (United States) 6 of 6
Year (2021) 3 of 3
Size (of disclosed) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-03 Dimex

Marietta, Ohio, United States

Dimex is a plastics extrusion business with a sophisticated raw material supply capability that involves reprocessing off-spec and scrap plastic material. Dimex was founded in 1991 and is based in Marietta, Ohio.

Buy -

Seller(S) 1

SELLER

Hexion

Columbus, Ohio, United States
Category Company
Founded 1857
Sector Chemicals
Employees5,100
DESCRIPTION

Hexion engages in the production of thermoset resins. Hexion serves the global adhesive, coatings, composites, and industrial markets through a broad range of thermoset technologies, specialty products, and technical support for customers in a diverse range of applications and industries. Hexion was established in 1857 and is based in Columbus, Ohio.

DEAL STATS #
Overall 2 of 2
Sector (Chemicals) 2 of 2
Type (Divestiture) 2 of 2
State (Ohio) 1 of 1
Country (United States) 2 of 2
Year (2021) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-20 Hexion - Performance Adhesives & Coatings

United States

Hexion - Performance Adhesives & Coatings develops, manufactures and markets a wide array of dispersions, additives, powder coatings and speciality monomers, supplying a global customer base across a broad range of end-use including coatings, adhesives and for building and construction applications. The business employs approximately 750 employees and operates 7 sites across Europe, the USA and Asia.

Sell $226M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-03 Smartech

Caesarea, Israel

Smartech specializes in AI-driven manufacturing solutions that optimize efficiency, sustainability, and production quality. It transforms traditional manufacturing processes and sets new standards in digital automation. Smartech was formed in 2005 and is based in Caesarea, Israel.

Buy -
Mergr

Product

Company

Legal