Lincoln International Represents Sekisui Chemical in Acquisition of PVOH Business of Celanese.
CHICAGO, July 1, 2009 – Lincoln International is pleased to announce that Sekisui Chemical Co., Ltd. (“Sekisui Chemical”) (TSE: 4204), a leading Japanese specialty chemical company, today has completed the acquisition of the polyvinyl alcohol (PVOH) of Celanese Corp. (“Celanese”) (NYSE: CE) for the purchase price of approximately US$173 million, excluding the value of accounts receivable and payable retained by Celanese. Sekisui announced its agreement to acquire the PVOH business from Celanese on April 27, 2009.
Lincoln International acted as a co-advisor to Sekisui in connection with the acquisition. The acquisition includes the facilities in Calvert City, Ky., Pasadena, Texas, one unit within the complex at Tarragona, Spain, and resources from the company’s Houston Technology Center. In total, approximately 250 employees located at these operations, supported by personnel in administrative, technical and sales functions, will join Sekisui. In addition, the transaction includes long-term supply agreements between both companies.
Based in Osaka and Tokyo, Japan, Sekisui is a global company whose products include high performance plastics and polymers, urban infrastructure and environmental products and housing materials, with annual sales of approximately $10 billion and 18,000 employees.
About Lincoln International
Lincoln International specializes in merger and acquisition services, private capital raising, and providing fairness opinions and valuations for leading organizations involved in middle-market transactions. With offices in Chicago, Frankfurt, London, Los Angeles, Madrid, New York, Paris, Vienna and Tokyo, and strategic partnerships with China Everbright and other partner firms in Asia, Lincoln International has strong local knowledge and contacts in the key global economies. The organization provides clients with senior-level attention, in-depth industry expertise and integrated resources. By being focused and independent, Lincoln International serves its clients without conflicts of interest. More information about Lincoln International can be obtained at www.lincolninternational.com.
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