Chemical maker W.R. Grace bought by Standard Industries Holdings for $7 billion
W.R. Grace's catalysts business offers polyolefin catalysts for the production of polypropylene and polyethylene resins, as well as surface modifiers for thin polymer films.
Specialty chemical maker W.R. Grace & Co. has been acquired by industrial company Standard Industries Holdings Inc. for approximately US$7 billion in an all-cash transaction.
Headquartered in Columbia, Maryland, W.R. Grace has two business segments: catalysts technologies and materials technologies. The catalysts business offers polyolefin catalysts for the production of polypropylene and polyethylene resins, as well as surface modifiers for thin polymer films.
“We are confident that our agreement with Standard Industries Holdings is the best path forward for Grace and our shareholders,” said Hudson La Force, W.R. Grace’s president and CEO. “Standard’s $7 billion investment in Grace reflects their confidence in the significant growth opportunities we have and enables our shareholders to realize immediate value at a significant cash premium. This announcement is a testament to the strengths of our talented employees, industry-leading technologies, and deep global customer relationships.”
Standard is headquartered in New York City.
The transaction is expected to close in the fourth quarter of 2021, and W.R. Grace will operate as a standalone company within the portfolio of Standard Industries Holdings.