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Specialty Chemicals

BASF finds private equity buyer for construction chemicals

by Michael McCoy
January 3, 2020 | APPEARED IN VOLUME 98, ISSUE 1

 

09801-buscon8-construct.jpg
Credit: BASF
Technicians in a BASF construction chemicals lab in Mumbai

Completing a yearlong auction process, BASF has agreed to sell its construction chemical business to the private equity firm Lone Star for about $3.6 billion. With more than 7,000 employees and annual sales of about $2.8 billion, the business produces chemicals and other materials used in the construction industry. BASF is also in the process of selling another noncore business—pigments—to Japan’s DIC for $1.3 billion.

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Comments
Mike Moran (January 18, 2020 10:58 PM)
Who will run/operate this sold segment of the business? - Lonestar?
Michael McCoy (January 21, 2020 9:15 AM)
Hi Mike, usually with sales to private equity firms the management of the business continues to operate it but with oversight from the PE firm. The PE firm may set new sales or profit targets that the management must then meet.

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