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Business

Activist Investor Targets Omnova

by Alexander H. Tullo
December 8, 2014 | A version of this story appeared in Volume 92, Issue 49

Barington Capital Group, an activist hedge fund, wants big changes at the small chemical and decorative materials conglomerate Omnova Solutions. Omnova generated $1.0 billion in sales in 2013. It makes specialty chemicals, and it also has an engineered surfaces segment, which makes products such as wall laminates and furniture upholstery. Barington says having two unrelated businesses under one roof dilutes Omnova’s strategic focus. It wants Omnova to sell the engineered surfaces unit. Omnova, in response, promises “aggressive actions” to strengthen itself.

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