Axiall Corporation has sold its aromatics business to Ineos Group
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that Axiall Corporation (“Axiall”) has completed the sale of its aromatics division and Pasadena, Texas, manufacturing facility to INEOS Americas LLC for approximately $62.9 million. Axiall retained its phenol facility located in Plaquemine, Louisiana, which is integrated with other Axiall facilities at Plaquemine, along with the associated net working capital. The company plans to conduct a safe wind-down of that facility by year-end 2015.
The Pasadena facility, which began operations in 1979, manufactures cumene. Cumene is used in the production of phenol, acetone and alpha-methylstyrene, all of which are building blocks for a range of everyday products including plywood and oriented strand board, engineered plastics, pharmaceuticals and paints, acrylics and varnishes.
Lincoln acted as the exclusive financial advisor to Axiall Corporation in this transaction, working closely with Axiall’s senior management team throughout the sale process. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction.
“Lincoln executed a well-structured and professional sale process involving a global group of potential strategic and financial acquirers and provided disciplined execution throughout a complex transaction,” said Gary Denning, Managing Director of Corporate Development, M&A. “Lincoln’s guidance and thoughtful advice were invaluable in securing a successful transaction.”
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