American Securities to Sell Arizona Chemical for $1.37B in Cash
September 29, 2015
American Securities has reached an agreement to sell Arizona Chemical to Kraton Performance Polymers (NYSE: KRA) for $1.37 billion in cash. Expected to close late this year or in early 2016, the deal values the company at 7.4x adjusted EBITDA for the 12 months ended June 30. Arizona Chemical is a specialty chemicals company that manufactures and sells performance products derived from pine wood pulping co-products; it serves a base of over 550 customers across 68 countries in end markets such as adhesive, road and construction and tire. American Securities purchased a controlling stake from Rhone Capital in late 2010.