Valentus Specialty Chemicals, which is owned by private equity firm Huron Capital (Detroit, Michigan), has acquired US Coatings (St. Louis, Missouri), a maker of protective and maintenance coatings for industrial applications.
Terms of the deal, including purchase price, were not disclosed. The acquisition will improve US Coatings’ product development and market access efforts, executives say.
US Coatings was founded in 2000, and purchased by executives Mike Reed, Don Thomas, and Larry LeSuere in 2013. Reed, Thomas and LeSueure will continue to work with US Coatings as part of Valentus. Valentus is a holding company focusing on niche coatings markets that has made five acquisitions since December 2015, as part of a buy-and-build strategy undertaken by Huron Capital.
By Vincent Valk
Source: Chemical Week
Corteva (Indianapolis, Indiana) says it has signed a definitive agreement to acquire Stoller Group (Houston, Texas), a producer of biostimulants and plant nutrition products, for $1.2 billion. Stoller is one of the largest independent biologicals companies globally, with operations in more than 60 countries and more than $400 million in annual sales.
OMV has announced its new corporate structure today, designed to fully enable the delivery of Strategy 2030. The new organization will be built on five distinct areas. In addition to the CEO and CFO areas, three business segments will be established: Chemicals & Materials, Fuels & Feedstock, and Energy.
The European petchem sector is readying for some tough quarters. It’s a different picture in the US. So is this the best time ever to find a new role in the chemical industry? If you are in Europe, you would expect me to say probably not. But actually, it depends. So let me give you four answers to this question.