CHASE
US investment firm KKR to buy American additives maker
Private equity firm Kohlberg Kravis Roberts (KKR, New York; www.kkr.com) plans to take over compatriot additives, adhesives, and coatings manufacturer Chase (Westwood, Massachusetts; www.chasecorp.com) for USD 1.3 bn (EUR 1.2 bn) including liabilities. Both sides signed an agreement to this effect, according to KKR.
The purchase price corresponds to 13 times the EBITDA of the past 12 months. Subject to the usual approvals, the transaction is expected to be completed in the fourth quarter of 2023, after which, the new owner intends to delist the company.
The purchase price corresponds to 13 times the EBITDA of the past 12 months. Subject to the usual approvals, the transaction is expected to be completed in the fourth quarter of 2023, after which, the new owner intends to delist the company.
 Adhesive tapes are also part of the US company's portfolio (Photo: Chase) |
Chase manufactures binders, masterbatches, superabsorbents, and insulating tapes, paints, and coatings for various application areas such as E&E, cables, consumer goods, medical technology, automotive, telecommunications, and oil and gas. In 2021, the US company generated sales of USD 293 mn.
26.07.2023 Plasteurope.com [253309-0]
Published on 26.07.2023
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