DuPont Plans to Buy Laird Performance Materials for $2.3B

American materials company DuPont announced Monday that it has entered into a definitive agreement to purchase Laird Performance Materials from private equity firm Advent International for $2.3 billion.

Laird Performance Materials is a supplier of electromagnetic shielding and thermal management solutions. DuPont said the deal will bolster its position in the advanced electronic materials for major markets like 5G telecommunications, AI, IoT, autonomous vehicles, and others. The business currently operates 11 manufacturing sites across North America, Asia, and Europe. In 2020, Laird Performance Materials generated revenues of $465 million.

“The acquisition of Laird Performance Materials is a significant step in advancing DuPont’s strategy to grow as an innovation leader and premier multi-industrial company,” said Ed Breen, executive chairman and chief executive officer of DuPont, in a release. “Laird Performance Materials’ industry-leading application engineering capabilities further strengthens DuPont as an essential partner for major electronics OEMs and manufacturers.”

Combining DuPont’s technology portfolio of films, laminates, and plating chemistry with Laird Performance Materials’ electromagnetic shielding and thermal management solutions will enable DuPont to help OEMs solve challenges in thermal management, signal integrity, miniaturization, power management, and reliability.

DuPont expects the transaction to close in the third quarter of 2021.