The $455 million acquisition of Omnova Solutions Inc., which was completed today, strengthens Synthomer’s global positioning in water-based polymer products, the company said in announcing the transaction. It creates a global speciality chemicals company with significant scale and a strong platform from which to invest in future growth, the company added.
London-based Synthomer supplies aqueous polymers that enhance the performance of products used in the coatings, construction, textile, paper and synthetic latex glove industries. It operates sites in the United Kingdom, Germany, Malaysia and Atlanta, GA.
By acquiring the specialty chemicals company based in Beachwood, OH, Synthomer boosts its presence in North America, as well as Europe and Asia, and furthers its penetration into the high-growth Chinese market. Synthomer said that it will apply best practices from across the enlarged group to improve productivity and service.
“I am very grateful to everyone who has helped us complete our acquisition of Omnova in a relatively short time frame following the initial announcement of the transaction at the start of July,” said Synthomer CEO Calum MacLean. “Synthomer now has global reach, a broader product portfolio, and increased R&D capabilities with an exciting platform from which to attract talent and invest in future growth.”
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