Global materials firm Trinseo has struck a deal to purchase North American polymethyl methacrylates (PMMA) manufacturer Aristech Surfaces LLC from Falcon Private Holdings affiliate SK AA Holdings LLC for a purchase price of $445 million, the company announced in a release Monday. The business produces PMMA continuous cast and solid surface sheets used in the wellness, architectural, transportation, and industrial markets.
“The acquisition of Aristech allows us to provide a full offering of PMMA technologies and innovative products that serve customers in new, high-growth markets,” Frank Bozich, president and chief executive officer of Trinseo, said in a statement. “This is an important next step towards our goal of becoming a global specialty materials and sustainable solutions provider. We are eager to welcome the Aristech team and we believe the complementary technical capabilities and focus on consumer relationships will drive superior results for the PMMA business globally.”
Purchasing Aristech will also enable Trinseo to expand its foothold in the wellness, niche leisure, and architectural markets. The company expects the deal to generate $10 million in annual pretax cost synergies by 2024.
The transaction is expected to close before the end of the year pending the completion of regulatory approvals and customary closing conditions.