LONDON — November 15, 2018 — The Valence Group acted as financial advisor to INEOS Enterprises on its announced acquisition of the Composites business and BDO facility in Germany of Ashland Global Holdings Inc. for $1.1 billion. The transaction is expected to complete in the first half of 2019, subject to regulatory approval and consultation processes.
The composites business is a global leader in unsaturated polyester resins, vinyl ester resins and gel coats. In addition to its wide range of gelcoats, the business also provides corrosion-resistant fiberglass reinforced plastics which provide exceptional durability, superior heat resistance, low maintenance and high performance for challenging environments. The BDO facility in Marl, Germany, produces key intermediates for high performance polyesters and polyurethanes. The businesses included in the transaction comprise 20 manufacturing sites in Europe, North and South America, Asia and the Middle East, employ 1,300 people and generate combined sales of more than $1.1 billion per annum.
Posted November 15, 2018
Source: The Valence Group