PolyOne Corp. (Cleveland, OH) has acquired certain technologies and assets from Kraton Performance Polymers Inc. (Houston, TX) related to its compounding business for $72 million in cash. The two companies have also entered into long-term supply agreement, whereby Kraton will provide PolyOne certain raw materials used in production for the acquired business. As part of the acquisition, PolyOne looks to expand on its global footprint and expertise in thermoplastic elastomer (TPE) innovation and design.
The end markets that will benefit from the acquired technologies span new and fast growing applications in adhesive and removable protective films, as well as current applications served by PolyOne, such as packaging, medical devices and personal care products.
"Since our highly successful TPE acquisition of GLS in 2008, we've continually invested in, globalized and grown in TPE innovation and its broad value-added uses," said Robert M. Patterson, President and CEO, PolyOne Corp. "We are very pleased to have made this investment for our customers and their product design, development and performance goals."
"I view this transaction as a win for both companies, and most importantly, for our respective shareholders and customers," said Kevin M. Fogarty, President and CEO of Kraton. "It allows PolyOne and Kraton to focus on our core competencies and help our customers with new and unique solutions that differentiate them in the marketplace."
Mr. Patterson added, "The integration will be swift and seamless, as we leverage our existing TPE know-how, global reach, and commercial expertise to help our customers in new and innovative ways."
PolyOne, with 2014 revenues of $3.8 billion, is a premier provider of specialized polymer materials, services and solutions.
Kraton's polymers are used in a wide range of applications, including adhesives, coatings, consumer and personal care products, sealants and lubricants, and medical, packaging, automotive, paving, roofing and footwear products.