Arkema: acquisition of XL Brands finalised
(CercleFinance.com) - Arkema has announced that on 2 January its subsidiary Bostik completed the acquisition of XL Brands, a leader in flooring adhesives in the United States, a transaction that was announced at the beginning of last November.
The chemist said that this transaction is based on an enterprise value of 205 million dollars, or 11x its current EBITDA, a ratio reduced to 7x after four to five years and the implementation of synergies.
With this acquisition, which completes the acquisition of CMP in May 2017, Arkema declares that it is actively pursuing the development of Bostik, which should represent over a third of its total turnover in 2023.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The chemist said that this transaction is based on an enterprise value of 205 million dollars, or 11x its current EBITDA, a ratio reduced to 7x after four to five years and the implementation of synergies.
With this acquisition, which completes the acquisition of CMP in May 2017, Arkema declares that it is actively pursuing the development of Bostik, which should represent over a third of its total turnover in 2023.
Copyright (c) 2018 CercleFinance.com. All rights reserved.