Kartik Kohli 2024-11-08 08:19:35
Nippon Paint Holdings Co. (Osaka, Japan) has announced plans to acquire LSF11 A5 TopCo LLC (AOC; Collierville, Tennessee) from private equity firm Lone Star Funds for $2.3 billion. The deal is expected to be completed in the first half of 2025.
Nippon Paint said that AOC has secured a leading position in the US and European markets as a specialty formulator for coatings, adhesives, sealants and elastomers; colorants; and composite solutions. The company has cash-generation capabilities, driven by profitability and low capital expenditure requirements, added Nippon Paint.
AOC reported 2023 revenue of $1.4 billion and EBITDA of $528 million. The Americas region contributed 71% of AOC’s sales; EMEA, 21%; and Asia, 9%. The coatings and protective barriers business contributed 28% of the total volume; colorants and adhesives, 24%; custom conventional and composite formulations, 27%; and non-custom conventional composite formulations, 21%. It operates 14 production sites and 10 technical service sites.
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