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PolyOne buying Spartech for $393m


Polymer compounder and distributor PolyOne plans to expand its product portfolio by acquiring Spartech, the firms have announced.
US-based Spartech brings a leading North American market position in sheet, rigid barrier packaging, compounds and specialty cast acrylic technologies to PolyOne.
The transaction is valued at about $393m (€302.9m), including assumption of Spartech's net debt of $142m (€109.5m). The companies expect to complete the deal in the first quarter of 2013.
Earlier this year, at an investory day event in New York, PolyOne said its goal is to have sales of $5bn (€3.9bn) and adjusted earnings per share of at least $2.50 (€1.93) by 2015. The sales goal is more than 70% higher than the $2.9bn (€2.2bn) total posted by PolyOne last year. The adjusted earnings-per-share target is more than double last year’s $1.02 (€0.79).

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