The transaction is expected to close in the third quarter of 2014 and is subject to customary closing conditions and regulatory approvals. Emerald has eight operations and approximately 750 employees. Based in Cuyahoga Falls, Ohio, the company is a leading producer and marketer of specialty chemicals for niche consumer and industrial end-markets. Some of the products are acrylonitrile butadien styrene emulsions, vulkanization accelerators, rubber additives, plasticizers, silicones, elastomer modified epoyy resins and specialty latex.
Candace M. Wagner, President and Chief Financial Officer of Emerald, said, „Over the past several years, we have continued to build a diverse family of market-leading brands, a blue chip customer base and a consistent record of annual revenue growth. We are excited to partner with American Securities as we look to innovate and produce the highest quality products available in the markets we serve, strengthen our operating focus and explore other initiatives to further expand our businesses.“
Scott M. Wolff, Managing Director at American Securities, commented, „Emerald represents a compelling investment opportunity and leverages our industry knowledge and track record in the specialty chemicals sector. We believe Emerald offers attractive growth opportunities, defensible market positions and a diverse portfolio of high quality businesses. We look forward to partnering with the seasoned management team to drive business performance.“
(dw)
