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Equity Firm to Acquire BASF's Construction Chemicals

Friday, January 10, 2020

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Late last month, chemical company BASF signed an agreement with an affiliate of private equity firm Lone Star regarding the purchase of BASF’s Construction Chemicals business. The total, on a cash and debt-free basis, amounted to 3.17 billion euros ($3.52 billion).

“Our aim was to find a new home for our Construction Chemicals business where it can leverage its full potential,” said Saori Dubourg, who serves as a member of the Board of Executive Directors of BASF SE. Dubourg is also responsible for the Construction Chemicals business.


Late last month, chemical company BASF signed an agreement with an affiliate of private equity firm Lone Star for the equity firm to purchase BASF’s Construction Chemicals business. The total,on a cash and debt-free basis, amounted to 3.17 billion euros ($3.52 billion).

“Under the umbrella of Lone Star, the Construction Chemicals team can focus on a growth path with an industry-specific approach.”

BASF Construction Chemicals

Donald Quintin, President of Europe at Lone Star, noted that the acquisition fit well with the equity firm’s portfolio.

“We highly value the industry-wide recognized knowledge and competence of BASF’s Construction Chemicals experts, backed by a strong track record in innovative products and a compelling R&D pipeline. We look forward to jointly pursuing a growth-oriented business approach,” said Quintin.

BASF’s Construction Chemicals segment currently employs more than 7,000 people, and has production sites and sales offices in more than 60 countries. In 2018, the segment generated 2.5 billion euros in revenue.

Additionally, according to BASF, segment sales and earnings are no longer included in sales, EBITDA and EBIT before special items of BASF Group, a move retroactively dated back to Jan. 1, 2019. Up until the deal is finalized, earnings are to be listed under income after taxes of BASF Group as a separate item.

The deal is currently slated to close in the third quarter of this year, though it is still subject to the approval of the relevant authorities.


Tagged categories: Acquisitions; BASF; Business operations; Construction chemicals; NA; North America; Program/Project Management

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