Eastman to acquire film maker Matrix

Specialty material supplier Eastman Chemical Co. is acquiring the business and assets of Matrix Films LLC, marketer of PremiumShield-brand performance films, including its line of automotive film patterns.

The financial terms of the deal have not been disclosed.

In a Sept. 13 news release, officials with Kingsport, Tenn.-based Eastman said the acquisition will expand its paint protection film pattern development capabilities, pattern database, and installation training expertise; and will also complement its automotive dealer base in North America, Europe and the Middle East to drive growth in paint protection films and window films.

Matrix is headquartered in Holliston, Mass.

“We are excited to add the experience, capabilities, and dealer base of the PremiumShield team to Eastman’s industry leading team to jointly create greater strength and differentiation,” said Erin Bernhardt, general manager of the performance films business of Eastman’s advanced materials segment. “The combination of PremiumShield’s experienced team and extensive pattern database creates great growth synergies and will further establish Eastman as an industry leader in performance films.”

The acquisition is expected to close in 2021.

Eastman employs 14,500 workers worldwide and had 2020 revenues of approximately US$8.5 billion