ZEUS
Swedish investor EQT to buy US fluoropolymer specialist
Private equity firm EQT (Stockholm; www.eqtgroup.com) plans to acquire US fluoropolymer product supplier Zeus (Orangeburg, South Carolina; www.zeusinc.com) in a deal set for the first quarter of next year, subject to approval by the relevant regulatory authorities, according to a joint press release from the companies. Financial details were not disclosed.
 Application areas for Zeus products are said to include medical, telecommunications, aerospace, automotive, and energy (Photo: Zeus) |
According to media reports, EQT is expected to pay USD 3.4 bn (EUR 3.1 bn) for the manufacturer. The Swedish company also announced that it would invest in expanding Zeus’s production and research capacities following the takeover and boltser the workforce.
Zeus produces hoses, cable coatings, and fibres for medical and industrial applications from fluoropolymers including PTFE, FEP, PFA, ETFE, and PVDF as well as high-performance plastics such as PEEK, polyamide and LCP. With nine US locations and plants in Letterkenny, Ireland, and Guangzhou, China, the company employs more than 2,400.
20.12.2023 Plasteurope.com [254273-0]
Published on 20.12.2023
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