Synthomer P.L.C. is selling the films, laminates and coated fabrics businesses it acquired when it closed its $455 million purchase of Omnova Solutions Inc. in 2020.
The sale to Surteco North America Inc. for $255 million will allow Synthomer to focus on its specialty chemicals business, the latter said in a news release. Synthomer, which specializes in polymer dispersions and synthetic latex, will concentrate on end markets including construction, coatings, adhesives, and health and protection.
Surteco North America in Myrtle Beach, S.C., is a unit of Surteco Group S.E. of Buttenwiesen, Germany. The parent company, a "surface technology specialist," said it wants to boost its presence in the U.S. and Asia and expand its offerings. Its products include floor strips and skirtings, wall edging, profiles and finish foils. Its brand names include Dakor, Doellken and Kroening.
The laminates business Surteco is buying provides functional and decorative surfaces in North America for commercial, residential and transportation markets. The products are used for kitchens, bathrooms, vinyl tiles and recreational vehicles. The business has three plants in North America and production capabilities in Thailand.