FLORENCE, Ky.–(Business WIRE)–Falcon Non-public Holdings, LLC (“Falcon”), the non-public expenditure arm of Jamshid Keynejad and Barry Siadat, announced today that its affiliate marketers have attained settlement to sell Aristech Surfaces LLC (“Aristech”) to Trinseo (NYSE: TSE), a global elements business and producer of plastics, latex binders, and synthetic rubber, for $445 million in hard cash, subject matter to customary closing changes. Aristech is a international main producer of ongoing forged acrylic sheet for the wellness, architectural, transportation, and industrial markets.
Barry Siadat, co-founder of Falcon, reported: “Because the carve-out from Mitsubishi Company in 2008, Falcon has actively collaborated with administration to establish Aristech as a thriving independent business enterprise by enhancing procedures, investing to extend operational abilities, developing in core sizzling tub and tub tub programs, and moving into new marketplaces and applications in the US and internationally. We are assured that Aristech is poised for ongoing progress as portion of Trinseo and we want them ongoing success.”
Jamshid Keynejad, co-founder of Falcon, continued: “Even though significantly was completed around the study course of Aristech’s 13 many years as component of the Falcon spouse and children of companies, we are specifically very pleased of the acceleration of expansion and worth generation less than Michael Gilbert’s management since 2018. We thank Michael and his talented crew for their valued contributions to this worthwhile investment.”
Michael Gilbert, CEO of Aristech, commented: “Above the earlier three yrs, with Falcon’s money and fingers-on assistance, we have accelerated expansion by investing in expertise, including capability, and boosting solution differentiation. This transaction validates Aristech’s strategic value, produced over the system of fifty decades of leadership in floor options. I would like to thank our staff members for their commitment and commitment, and we look ahead to turning into portion of the Trinseo household.”
Philip Marxen, a controlling director of Falcon, included: “This investment evidences the energy of Falcon’s differentiated mix of lasting funds, which allowed Falcon to prioritize long-phrase worth creation fairly than fiscal engineering, and interior running abilities, which enabled a seamless carve-out and facilitated the unlocking of Aristech’s unrealized possible.”
The transaction is expected to shut this 12 months, issue to customary closing situations and regulatory approvals. The company will turn into component of Trinseo’s Engineered Components section. For Falcon and Aristech, The Valence Group of Piper Sandler acted as economic advisor and Morgan Lewis acted as legal counsel. For Trinseo, Centerview Companions acted as economical advisor and Reed Smith acted as legal counsel.