{"id":415983,"date":"2021-01-15T16:08:34","date_gmt":"2021-01-15T21:08:34","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=415983"},"modified":"2021-01-15T16:08:34","modified_gmt":"2021-01-15T21:08:34","slug":"huntsman-completes-the-acquisition-of-gabriel-performance-products-further-expanding-its-specialty-chemicals-portfolio","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/huntsman-completes-the-acquisition-of-gabriel-performance-products-further-expanding-its-specialty-chemicals-portfolio\/","title":{"rendered":"Huntsman Completes the Acquisition of Gabriel Performance Products, Further Expanding its Specialty Chemicals Portfolio"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n THE WOODLANDS, Texas<\/span>, Jan. 15, 2021<\/span> \/PRNewswire\/ —\u00a0Huntsman Corporation (NYSE: HUN) today announced it completed the acquisition of Gabriel Performance Products (Gabriel), a North American specialty chemical manufacturer of specialty additives and epoxy curing agents for the coatings, adhesives, sealants and composite end-markets, from Audax Private Equity.\u00a0 <\/p>\n

Huntsman paid $250 million<\/span>, subject to customary closing adjustments, in an all-cash transaction funded from available liquidity. Gabriel had 2019 revenues of approximately $106 million<\/span> with three manufacturing facilities located in Ashtabula, Ohio<\/span>, Harrison City, Pennsylvania<\/span> and Rock Hill, South Carolina<\/span>. \u00a0Based on calendar year 2019, the purchase price represents an adjusted EBITDA multiple of approximately 11 times, or approximately 8 times pro forma for synergies. \u00a0\u00a0\u00a0<\/p>\n

\n About Huntsman:
<\/b>
\n Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2019 revenues of <\/i>
\n approximately $7 billion<\/span>. Our chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of <\/i>
\n consumer and industrial end markets. We operate more than 70 manufacturing, R&D and operations facilities in approximately 30 countries and employ <\/i>
\n approximately 9,000 associates within our four distinct business divisions. For more information about Huntsman, please visit the company’s website at\u00a0<\/i>
\n
\n www.huntsman.com<\/a>
\n <\/i>
\n .<\/i>\n <\/p>\n

\n Social Media:
<\/b>
\n Twitter<\/i>
\n : www.twitter.com\/Huntsman_Corp<\/a>
Facebook: www.facebook.com\/huntsmancorp<\/a>
<\/u>LinkedIn: www.linkedin.com\/company\/huntsman<\/a>\u00a0<\/i>\n <\/p>\n

\n Forward-Looking Statements:
<\/b>
\n Certain information in this release constitutes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on management’s current beliefs and expectations. The forward-looking statements in this release are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the company’s operations, markets, products, services, prices and other factors as discussed under the caption “Risk Factors” in the Huntsman companies’ filings with the U.S. Securities and Exchange Commission. Significant risks and uncertainties may relate to, but are not limited to, volatile global economic conditions, cyclical and volatile product markets, disruptions in production at manufacturing facilities, reorganization or restructuring of Huntsman’s operations, including any delay of, or other negative developments affecting the ability to implement cost reductions, timing of proposed transactions, and manufacturing optimization improvements in Huntsman businesses and realize anticipated cost savings, ability to achieve projected synergies, and other financial, economic, competitive, environmental, political, legal, regulatory and technological factors. The company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by applicable laws.<\/i>\n <\/p>\n

\n

\n
\n \"Huntsman
\n <\/a>\n <\/p>\n<\/p><\/div>\n

\u00a0<\/p>\n

<\/div>\n

\n \"Cision\" View original content to download multimedia:http:\/\/www.prnewswire.com\/news-releases\/huntsman-completes-the-acquisition-of-gabriel-performance-products-further-expanding-its-specialty-chemicals-portfolio-301209534.html<\/a><\/p>\n

SOURCE Huntsman Corporation<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire THE WOODLANDS, Texas, Jan. 15, 2021 \/PRNewswire\/ —\u00a0Huntsman Corporation (NYSE: HUN) today announced it completed the acquisition of Gabriel Performance Products (Gabriel), a North American specialty chemical manufacturer of specialty additives and epoxy curing agents for the coatings, adhesives, sealants and composite end-markets, from Audax Private Equity.\u00a0 Huntsman paid $250 million, subject to customary closing adjustments, in an all-cash transaction funded from available liquidity. Gabriel had 2019 revenues of approximately $106 million with three manufacturing facilities located in Ashtabula, Ohio, Harrison City, Pennsylvania and Rock Hill, South Carolina. \u00a0Based on calendar year 2019, the purchase price represents an adjusted EBITDA multiple of approximately 11 times, or approximately 8 times pro forma for synergies. \u00a0\u00a0\u00a0 About Huntsman: Huntsman Corporation … <\/p>\n

Continue reading “Huntsman Completes the Acquisition of Gabriel Performance Products, Further Expanding its Specialty Chemicals Portfolio”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-415983","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nHuntsman Completes the Acquisition of Gabriel Performance Products, Further Expanding its Specialty Chemicals Portfolio - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/huntsman-completes-the-acquisition-of-gabriel-performance-products-further-expanding-its-specialty-chemicals-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Huntsman Completes the Acquisition of Gabriel Performance Products, Further Expanding its Specialty Chemicals Portfolio - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire THE WOODLANDS, Texas, Jan. 15, 2021 \/PRNewswire\/ —\u00a0Huntsman Corporation (NYSE: HUN) today announced it completed the acquisition of Gabriel Performance Products (Gabriel), a North American specialty chemical manufacturer of specialty additives and epoxy curing agents for the coatings, adhesives, sealants and composite end-markets, from Audax Private Equity.\u00a0 Huntsman paid $250 million, subject to customary closing adjustments, in an all-cash transaction funded from available liquidity. Gabriel had 2019 revenues of approximately $106 million with three manufacturing facilities located in Ashtabula, Ohio, Harrison City, Pennsylvania and Rock Hill, South Carolina. \u00a0Based on calendar year 2019, the purchase price represents an adjusted EBITDA multiple of approximately 11 times, or approximately 8 times pro forma for synergies. \u00a0\u00a0\u00a0 About Huntsman: Huntsman Corporation … Continue reading "Huntsman Completes the Acquisition of Gabriel Performance Products, Further Expanding its Specialty Chemicals Portfolio"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/huntsman-completes-the-acquisition-of-gabriel-performance-products-further-expanding-its-specialty-chemicals-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-15T21:08:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/817417\/Huntsman_Corporation_Logo.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/huntsman-completes-the-acquisition-of-gabriel-performance-products-further-expanding-its-specialty-chemicals-portfolio\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/huntsman-completes-the-acquisition-of-gabriel-performance-products-further-expanding-its-specialty-chemicals-portfolio\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Huntsman Completes the Acquisition of Gabriel Performance Products, Further Expanding its Specialty Chemicals Portfolio\",\"datePublished\":\"2021-01-15T21:08:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/huntsman-completes-the-acquisition-of-gabriel-performance-products-further-expanding-its-specialty-chemicals-portfolio\\\/\"},\"wordCount\":437,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/huntsman-completes-the-acquisition-of-gabriel-performance-products-further-expanding-its-specialty-chemicals-portfolio\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/817417\\\/Huntsman_Corporation_Logo.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/huntsman-completes-the-acquisition-of-gabriel-performance-products-further-expanding-its-specialty-chemicals-portfolio\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/huntsman-completes-the-acquisition-of-gabriel-performance-products-further-expanding-its-specialty-chemicals-portfolio\\\/\",\"name\":\"Huntsman Completes the Acquisition of Gabriel Performance Products, Further Expanding its Specialty Chemicals Portfolio - 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