Huntsman completed the USD593m sale of its Textile Effects division to Archroma, a company owned by the private-equity firm SK Capital Partners, said the company.
Archroma was set up by SK Capital Partners in 2013 after acquiring the textile chemicals, paper specialties and emulsions businesses from Swiss producer Clariant in 2013. It has about 3,000 employees in 25 facilities globally.
Its textile specialties, paper solutions and emulsion product segments are managed from Singapore, Switzerland and Brazil, respectively. SK Capital agreed to assume an estimated USD125m pension liabilities as part of the acquisition.
Huntsman expects proceeds will be USD540m after taxes. The sale leaves Huntsman with three business segments. Polyurethanes produces methylene diphenyl diisocyanate (MDI), polyols and thermoplastic polyurethanes (TPUs).
Performance Products makes amines and maleic anhydride (MA). Advanced Materials produces epoxy resins and other thermoset resins. The following chart shows the segments' share of 2022 revenue.
We remind, Huntsman Corporation announced that it has secured all regulatory approvals required to complete the sale of its textile effects division to Archroma, a portfolio company of SK Capital Partners. Both parties expect the transaction to close 28 February. The agreed purchase price was USD593m in cash plus assumed pension liabilities, and Huntsman expects the net after tax cash proceeds to be approximately USD540m before customary post-closing adjustments.
mrchub.com