Nouryon continues its growth acceleration plans with an agreement to acquire the carboxymethyl cellulose (CMC) business of J.M. Huber Corporation. The transaction will significantly broaden Nouryon’s portfolio of products in CMC, a sustainable, bio-based water-soluble polymer used as a thickener, binder, stabilizer and film former, according to the company. The companies have largely complementary positions in CMC end markets, which include home and personal care, mining, food, pharmaceuticals and paper and packaging.
The acquisition underlines Nouryon’s strategy of investing in attractive growth markets, including bolt-on acquisitions, according to the company. The business manufactures a complete line of CMC grades and serves customers in over 80 countries, reportedly generating sales of around €135 million. It includes a world-class manufacturing facility as well as an advanced R&D facility located at Äänekoski, Finland, according to Nouryon. Around 240 employees from the business will transfer to Nouryon.
Moelis & Company LLC acted as exclusive financial advisor to Nouryon and Latham & Watkins LLP acted as legal advisor. J.M. Huber Corporation was advised by Citi as exclusive financial advisor and DLA Piper as legal advisor. The transaction is expected to close in the second quarter of 2020, subject to regulatory approvals.
For more information, visit: www.nouryon.com
