Mexichem, S.A.B. de C.V. announced that it has acquired Sylvin Technologies Inc., a niche PVC compounds manufacturer based in Denver, Pennsylvania for an Enterprise Value of $39 million based on a debt free cash free valuation.
Sylvin is expected to have total sales of $29 million for the full year of 2017. It has a 30-year history of serving a broad range of industries including: wire and cable, electrical, industrial, automotive, medical and food products. Mexichem will consolidate Sylvin under the Company’s Vinyl Business Group as part of its Compounds Business Unit, a leading supplier of PVC compound solutions serving the global market. Our Vinyl Business Group reported sales of $2.2 billion for the trailing twelve months ended September 30, 2017.
Combining Sylvin’s customer-focused business model, strong team and application development capabilities with Mexichem’s global compounds business will allow Mexichem to deliver even greater value to its combined U.S. customers. Sylvin’s key raw materials are PVC resin, plasticizers and stabilizers, which should bring synergies to Mexichem’s Vinyl operations. “This transaction continues Mexichem’s strategy of completing bolt-on acquisitions that expand its portfolio of specialty products and applications and give access to new end markets and customers, driving future growth. These products and applications can be further leveraged globally as we expand in other parts of the world” said Sameer S. Bharadwaj, President of the Compounds Business Unit.
“The acquisition of Sylvin is a further step towards downstream integration in specialty products with higher margins that enables sustainable growth of our return on invested capital over our weighted average cost of capital in the long run,” Antonio Carrillo, CEO of Mexichem remarked.
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