Synthomer completes acquisition of specialty chemical maker Omnova Solutions
First announced in July 2019, the deal strengthens UK-based polymer maker Synthomer’s global positioning in water-based polymer products.
Polymer maker Synthomer Plc has completed its US$455 million acquisition of Omnova Solutions Inc., a move that Synthomer said creates a global specialty chemicals company with significant scale and a strong platform from which to invest in future growth.
The deal was first announced in July 2019.
London-based Synthomer supplies aqueous polymers that enhance the performance of products used in the coatings, construction, textile, paper and synthetic latex glove industries. It operates sites in the United Kingdom, Germany, Malaysia and Atlanta, Ga.
Omnova is headquartered in Beachwood, Ohio, and provides provides emulsion polymers, specialty chemicals, and functional and decorative surfaces.
“I am very grateful to everyone who has helped us complete our acquisition of Omnova in a relatively short time frame following the initial announcement of the transaction at the start of July,” said Synthomer CEO Calum MacLean. “Synthomer now has global reach, a broader product portfolio, and increased R&D capabilities with an exciting platform from which to attract talent and invest in future growth.”