Expanding its product portfolio in textile dyeing and finishing materials, DyStar LP has completed the acquisition of the three specialty chemical units — Carolina Chemical, Hilton Davis and Foam Control — of Emerald Performance Materials.
DyStar said it will integrate all three specialty businesses and manufacturing sites into its U.S. business platform. The units produce materials for textile and leather such as coatings, colorants, dyes and repellents. Terms of the deal were not disclosed.
“The acquisition strengthens DyStar’s position as a specialty chemical manufacturer in the USA, as well as builds a diversified product portfolio to launch on our global platform,” said Ruan Weixiang, chairman of DyStar Group.
By combining the businesses, DyStar adds a broad range of products to service multinational retail and consumer brands, providing a more balanced business in strategic segments ensuring the long-term growth and profitability of DyStar. DyStar LP is the U.S. subsidiary of DyStar Global Holdings (Singapore) Pte. Ltd.
DyStar said it will incorporate team the Emerald team into the DyStar group.
Lazard served as the exclusive financial adviser to DyStar LP and Allen & Overy and Parker Poe Adams & Bernstein served as the legal advisers. KeyBank served as the exclusive financial adviser to Emerald and Weil; Gotshal & Manges LLP served as the legal adviser to Emerald in connection with the acquisition by DyStar LP of these specialty chemical units from Emerald.
DyStar Group is a solution provider, offering customers across the globe a complete range of colorants, auxiliaries and services. The DyStar Group has offices, competence centers, agencies and production plants in more than 50 countries. With a heritage of more than a century of product development and innovation for the textile and leather industries, DyStar has expanded into new markets that serve the paper, plastic and many other specialty chemical industries.
DyStar offers state-of-the-art color communication for textile and ecology testing through Texanlab, and ecology and environmental advice, supply chain auditing and consulting for compliant sustainable processes through Sustainable Textile Solutions programs.