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DuPont to acquire Laird Performance Materials for $2.3 billion


Industry > Industry monitor > Chemicals
DuPont to acquire Laird Performance Materials for $2.3 billion
08 March 2021
Global chemicals and techno-materials major DuPont is acquiring Laird Performance Materials for $2.3 billion,  in a deal that will add critical capabilities and market leading offerings in thermal management and electromagnetic shielding essential to emerging electronic applications.
DuPont on Monday announced the signing of a definitive agreement with private equity firm Advent International, which owns Laird Performance Materials for $2.3 billion, which will be paid from existing cash balances. 
The transaction is expected to close in the third quarter of 2021, subject to regulatory approvals and other customary closing conditions, DuPont stated in a release. ....

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E.I. du Pont de Nemours and Company (NYSE:DD) - DuPont Acquires Laird Performance Materials For $2.3B


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DuPont de Nemours Inc (NYSE: DD) is paying $2.3 billion to acquire Laird Performance Materials from the private equity firm Advent International.
What Happened: Advent International acquired Laird Performance Materials parent company, the British-based Laird plc, in 2018 for $1.3 billion. The company was subsequently divided into three separate entities: Performance Materials, Connectivity and Thermal Services.
The Shanghai-headquartered Laird Performance Materials is a manufacturer of electromagnetic shielding and thermal management components and solutions that manage heat and protect devices from electromagnetic interference.
The company recorded $465 million in 2020 revenues and has a 4,300-person workforce spanning 11 manufacturing sites in North America, Europe and Asia. ....

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DuPont to Acquire Laird Performance Materials from Advent International


DuPont to Acquire Laird Performance Materials from Advent International
Strengthens DuPont s leadership position in advanced electronic materials for key markets including smart/autonomous vehicles, 5G telecommunications, artificial intelligence, internet of things, and high-performance computing
Adds critical capabilities and market leading offerings in thermal management and electromagnetic shielding essential to emerging electronic applications
Significantly accelerates the transformation of E&I s Interconnect Solutions business into a total solutions provider
Purchase price of $2.3 billion and forecasted cost synergies of $60 million yield transaction multiple of ~15x excluding synergies and ~11x including synergies
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