Skip to main content
Sister Publication Links
  • European Rubber Journal
  • Plastics News
  • Tire Business
Subscribe
  • Login
  • Register
  • Subscribe
  • News
    • Automotive
    • Tire
    • Non-Tire
    • Suppliers
    • Silicone
    • Online Exclusive
    • Latex
    • Technical Notebooks
    • Executive Action
    • Government/Legal
    • Opinion
    • Rubber Division IEC
    • ITEC
    • Blogs
    • Sustainability
    • Products
    • Wacky World of Rubber
  • War in Ukraine
  • Custom
    • Sponsored Content
    • White Papers
  • Resources
    • Directory
    • Classifieds & Mold Mart
  • Data
  • Events
    • RN Events
    • RN Livestreams/Webinars
    • Industry Events
    • Past Events
    • Rubber News M&A Live
    • 2022 Hose & Belt Manufacturers Conference
    • 2022 International Silicone Conference
    • 2022 International Tire Exhibition & Conference (ITEC)
  • Advertise
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. News
June 29, 2004 02:00 AM

Investors' group to pay $120 million for PolyOne's elastomers unit

  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    CLEVELAND (June 29)—PolyOne Corp. has agreed to sell its Elastomers and Performance Additives business for about $120 million to an investors' group led by two New York-based private equity firms.

    The deal, expected to close in the third quarter, is subject to customary closing conditions and the buyers' receipt of their financing, PolyOne said.

    The buyers are being led by Lion Chemical Capital L.L.C. and ACI Capital Co. Inc., which said they anticipate no immediate change in the unit's business practices and emphasized that the current management team, headed by John E. Quinn, vice president and general manager, will remain in place.

    The purchase agreement provides that PolyOne will receive gross proceeds before associated fees and costs of about $120 million, of which $106 million will be paid in cash and $14 million in the form of a note from the buyer. This price is within PolyOne's range of estimates for the sale of the unit, which generated sales of $349 million for the 12-month period ended March 31.

    Lion Chemical said it focuses on investing in businesses operating in the chemical and related industries, while ACI said it makes equity investments in profitable, market-leading public and private companies, partnering with management to increase value of their businesses.

    Letter
    to the
    Editor

    Rubber News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].

    Most Popular
    1
    Wacker may add silicon metal capacity in Norway
    2
    Wacker aims to increase global silicone capacity
    3
    Freudenberg Sealing chief technology officer set to retire
    4
    Stellantis to replace North American purchasing chief amid supplier relation woes
    5
    COVID lockdowns, lower crude prices cause NR markets to slip
    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Get our newsletters

    Staying current is easy with Rubber News delivered straight to your inbox, free of charge.

    Subscribe Today

    Subscribe to Rubber News to get the best coverage and leading insights in the industry.

    SUBSCRIBE
    Connect with Us
    • LinkedIn
    • Facebook
    • Twitter

    MISSION

    To serve companies in the global rubber product industry by delivering news, industry insights, opinions and technical information.

    Contact Us

    2291 Riverfront Pkwy, Suite 1000
    Cuyahoga Falls,
    OH 44221

    Customer Service:
    877-320-1726

    Resources
    • About Us
    • Digital Edition
    • Staff
    • Advertise
    • Order Reprints
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Careers
    • Ad Choices Ad Choices
    • Sitemap
    Partner Sites
    • Tire Business
    • European Rubber Journal
    • Plastics News
    • Plastics News China
    • Urethanes Technology
    • Automotive News
    • Crain Brands
    Copyright © 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • News
      • Automotive
      • Tire
      • Non-Tire
      • Suppliers
      • Silicone
      • Online Exclusive
      • Latex
      • Technical Notebooks
      • Executive Action
      • Government/Legal
      • Opinion
      • Rubber Division IEC
      • ITEC
      • Blogs
        • Products
        • Wacky World of Rubber
      • Sustainability
    • War in Ukraine
    • Custom
      • Sponsored Content
      • White Papers
    • Resources
      • Directory
      • Classifieds & Mold Mart
    • Data
    • Events
      • RN Events
        • 2022 Hose & Belt Manufacturers Conference
        • 2022 International Silicone Conference
        • 2022 International Tire Exhibition & Conference (ITEC)
      • RN Livestreams/Webinars
      • Industry Events
      • Past Events
      • Rubber News M&A Live
    • Advertise
    • DIGITAL EDITION