GLOBAL private equity firm Lone Star has signed a purchase agreement to acquire BASF’s Construction Chemicals business.
BASF’s Construction Chemicals has production sites and sales offices in more than 60 countries and has more than 7,000 employees. Lone Star has agreed a purchase price of €3.17bn (US$3.53bn). The transaction is expected to close in Q3 of 2020 but the agreement has immediate effect on BASF sales and earning reportings as Construction Chemicals will no longer be included.
Saori Dubourg, member of the Board of Executive Directors of BASF and responsible for the Construction Chemicals business, said: “Our aim was to find a new home for our Construction Chemicals business where it can leverage its full potential. Under the umbrella of Lone Star, the Construction Chemicals team can focus on a growth path with an industry-specific approach.”
Donald Quintin, President of Europe at Lone Star, said: “We highly value the industry-wide recognised 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.”
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