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PolyOne set to buy ColorMatrix for $486m


PolyOne plans to acquire ColorMatrix Group, a supplier of liquid colorants, additives and fluoropolymers, for $486m.
According to PolyOne, ColorMatrix had sales of nearly $197m and earnings before interest, taxes, depreciation and amortisation (EBITDA) of $43.6m in the 12 months that ended last June 30.
“Since 2002, ColorMatrix has organically increased EBITDA at an annualized growth rate of 16%, and our purchase price of $486m recognises the earnings and growth potential of this specialty business,” Stephen Newlin, PolyOne chairman, president and CEO, said in a statement.
PolyOne said the acquisition is subject to regulatory approvals and is expected to close late this year. PolyOne said its management will discuss the acquisition in more detail during its regularly scheduled third-quarter earnings conference call set for 26 October.

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