Hybrid Coating Technologies Inc (fka HCTI)

[Barrydeep]

Interesting.....

https://www.demilec.com/Products/Coatings/Maxguard.aspx

Huntsman acquires spray foam insulation manufacturer Demilec

On 13 March 2018, Huntsman confirmed the acquisition of Demilec from an affiliate of Sun Capital Partners, Inc. Demilec has annual revenues of approximately USD 170 million with headquarters in Arlington, TX, USA. Under terms of the agreement, Huntsman will pay USD 350 million in an all-cash transaction, funded from available liquidity.

The North America manufacturer and distributor of spray polyurethane foam (SPF) insulation systems, has two manufacturing facilities located in Arlington and Boisbriand, Québec, Canada and is specialized in both closed cell and open cell formulations, with a focus on products with renewable and recyclable content.

Tony Hankins, President of Huntsman's Polyurethanes division, commented the acquisition: "Demilec has pioneered MDI SPF insulation and coating technologies for over 30 years, building a strong market reputation with architects, builders and designers. Demilec and the entire SPF industry has delivered strong double digit growth, which we expect to be sustained as their technology provides outstanding insulation performance in a world which is increasingly concerned with improving energy efficiency. The Demilec team will continue to be fundamental to the ongoing success of the integrated business after the transaction has closed, as we rapidly build our North American platform and aggressively expand the business into international markets."

Peter Huntsman, Chairman, President and CEO further commented: "This bolt-on acquisition is a great fit to our core strategy to move downstream. The integration of Demilec into our Polyurethanes business offers significant synergies and delivers substantially higher and very stable margins by pulling through large amounts of upstream polymeric MDI into specialized spray foam systems. This integrated business will have greater than 25 % EBITDA margins and double digit growth."

www.huntsman.com
www.demilec.com
www.suncappart.com