CVC Capital Partners announced that it envisages to sell AOC to an affiliate of Lone Star Funds. The contemplated transaction is subject to AOC workers’ councils information and consultation and relevant regulatory authorities’ approval.
Headquartered in Schiphol, The Netherlands, AOC is a global CASE and colorants leader, producing and formulating unsaturated polyester resins, vinyl ester resins, and other solutions for applications in coatings and protective barriers, colorants and visual effects, adhesives, and conventional composite resins.
AOC serves customers globally with specialty products for the automotive, marine, corrosion, construction, and infrastructure segments. The company has production facilities in the U.S., Canada, Mexico, Europe and Asia.
Under CVC Funds’ ownership, AOC realized significant growth, evolving from a strong regional player to a global composites leader through the strategic combination with The Alpha Corporation in 2018. Under the leadership of CEO Joe Salley, AOC developed into a best-in-class specialty resins platform with a path for continued sustainable growth.
“I am very proud of the accomplishments of my colleagues, and on their behalf, extend our gratitude to CVC for their stewardship of this business. Steven Buyse and his team have been ideal sponsors; our successes and opportunities would not have been possible without them. We are excited about the prospects for AOC and the envisaged partnership with the Lone Star team to create an even stronger company,” Salley said.
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