MOSCOW (MRC) -- PolyOne Corporation, a premier global provider of specialized polymer materials, services and solutions, has announced the acquisition of Magenta Master Fibers (Magenta), an innovative developer of specialty solid color concentrates for the global fiber industry, said the producer on its site.
PolyOne purchased Magenta from BASF for USD22 million, which represents a multiple of 6.8x EBITDA. The acquisition is expected to add USD16 million to revenues and be accretive to earnings in 2016.
Magenta's solutions span a wide range of uses, including clothing and apparel, outdoor equipment, high-performance products and multiple materials used in the transportation industry. And consistent with the megatrend of improving health and wellness, additional textile growth opportunities include applications within the hygiene, healthcare and medical markets.
With operations in Milan and Shanghai, 65% of Magenta revenues are outside of North America. Magenta will operate within PolyOne's Global Color, Additives and Inks segment, which last month unveiled its revolutionary new ColorMatrix Fiber Colorant Solutions that provide late-stage color injection in fiber applications utilizing liquid solutions.
"PolyOne's unique, customer-first approach to color and additive solutions begins with an unbiased perspective as to the technology. By offering both liquid and solid masterbatch solutions, we better ensure that the chosen technology is the best one for each customer's specific needs," explained John V. Van Hulle, president, Global Color, Additives and Inks, PolyOne Corporation. "With our acquisition of Magenta, we're very pleased to be building this same, deep breadth of specialty solid and liquid colorant solutions for fiber applications."
As MRC reported earlier, in February 2014, PolyOne Corporation announced the addition of new capabilities to its OnColor HC Plus portfolio. These expanded offerings add medical-grade LDPE, nylon, PEBA, PS and PVC to the globally available palette of specialty healthcare colorants, and are pre-certified to meet or exceed biocompatibility requirements for ISO 10993 and/or USP Class VI protocols.
PolyOne Corporation, with 2014 revenues of USD3.8 billion, is a global provider of specialized polymer materials, services, and solutions with operations in specialty polymer formulations, color and additive systems, polymer distribution and specialty vinyl resins.
MRC