08.31.21
An agreement was signed by Arkema for the acquisition of Ashland’s Performance Adhesives business, a first-class leader in high performance adhesives for industrial applications in the United States with a unique and innovative product portfolio
(1) including pro forma adjustments
- · This project perfectly aligns with the Group’s ambition to become a pure Specialty Materials player by 2024 and focus its development on sustainable and high performance solutions
- · This key step supports Bostik’s strong long term growth ambition and now allows it to aim for an EBITDA margin above 17% in 2024
- · Sales of approximately $360 million (1) in 2021 with an EBITDA margin above 25% (1) and 330 employees.
- · The offer was made on the basis of a $1,650 million enterprise value, i.e. 15x the estimated 2021 EBITDA (1) after taking into account the tax benefits linked to the structure of the transaction
- · Significant pre-tax synergies, estimated at 12.5% of sales, enabling to reduce the EV/EBITDA multiple to 8.7 by 2026
(1) including pro forma adjustments
