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Business

Yule Catto Will Buy PolymerLatex

by Marc S. Reisch
December 20, 2010 | A version of this story appeared in Volume 88, Issue 51

British chemicals maker Yule Catto has agreed to acquire rival PolymerLatex from TowerBrook Capital Partners for $595 million. The combination will create an emulsion polymers business with annual sales of $1.6 billion and 2,000 employees. TowerBrook acquired PolymerLatex from Bayer and Degussa in 2003 for $254 million. When the deal closes in the second quarter of 2011, Yule Catto will acquire a nitrile and styrene-butadiene latex business serving glove, textile, and paper markets with sales in 2009 of $538 million and earnings of $76 million. Yule Catto CEO Adrian Whitfield calls the acquisition a “transformation opportunity.”

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