American chemical maker Eastman Chemical Co. announced Monday that it entered into an agreement to purchase the business and assets of performance films manufacturer and marketer Matrix Films LLC, including its PremiumShield brand and line of automotive film patterns.
“We are excited to add the experience, capabilities, and dealer base of the PremiumShield team to Eastman’s industry-leading team to jointly create greater strength and differentiation,” said Erin Bernhardt, general manager of the Performance Films business in Eastman’s Advanced Materials segment, in a release. “The combination of PremiumShield’s experienced team and extensive pattern database creates great growth synergies and will further establish Eastman as an industry leader in performance films.”
The transaction will enable Eastman to expand its paint protection film development capabilities, pattern database, and installation training expertise. Matrix Films also complements the firm’s automotive dealer base in North America, Europe, and the Middle East, fostering growth in window films and paint protection films.
Eastman anticipates that the transaction will close this year.