WILMINGTON, Del., April 30, 2021 (GLOBE NEWSWIRE) — Ashland World Holdings Inc. (NYSE: ASH) as we speak introduced that it has accomplished the acquisition of the non-public care enterprise from Schülke & Mayr GmbH, a portfolio firm of the worldwide funding group EQT.
Below the phrases of the settlement, Ashland agreed to a purchase order worth of €262.5 million in an all-cash transaction funded with financial institution financing and accessible money, topic to customary buy worth changes. Ashland expects the acquisition to turn out to be instantly accretive to Ashland’s earnings per share.
The completion of the acquisition strengthens Ashland’s shopper enterprise portfolio and enhances the corporate’s specialty components place whereas increasing the corporate’s biotechnology and microbiology technical competencies. The transfer additionally advances Ashland’s environmental, social and governance (ESG) agenda by additional aligning the corporate’s private care and family portfolio with the ‘clear magnificence’ development and new era of customers in search of merchandise with milder components.
“I’m excited to welcome the Schülke and Mayr private care staff to Ashland. They are going to assist broaden our specialty components options and develop our biotechnology and microbiology technical capabilities,” stated Guillermo Novo, chairman and chief government officer, Ashland. “We’ll proceed driving our technique and specializing in bolt-on acquisitions that create new sustainable options in broader fields of software to ship worth to our prospects.”
“Finishing this acquisition helps our technique to strengthen the worthwhile development of our private care and family enterprise unit,” stated Xiaolan Wang, senior vp and normal supervisor, private care and family, Ashland. “It’s my pleasure to welcome our new solvers to Ashland who will additional assist our prospects’ manufacturers differentiate and develop in a continuously altering market house.”
Citi is appearing as monetary advisor to Ashland, and Squire Patton Boggs LLP is appearing as authorized advisor.
Ashland World Holdings Inc. (NYSE: ASH) is a premier specialty supplies firm with a acutely aware and proactive mindset for sustainability. The corporate serves prospects in a variety of shopper and industrial markets, together with adhesives, architectural coatings, automotive, building, power, meals and beverage, nutraceuticals, private care and pharmaceutical. Roughly 4,200 passionate, tenacious solvers – from famend scientists and analysis chemists to proficient engineers and plant operators – thrive on growing sensible, modern and chic options to complicated issues for patrons in additional than 100 nations. Go to www.ashland.com and www.ashland.com/sustainability to study extra.
About Schülke & Mayr GmbH
The corporate is a pacesetter within the area of an infection prevention and hygiene options for greater than 130 years. Schülke & Mayr GmbH develops, produces and distributes antiseptics for wound care, disinfectants and medical and beauty skincare merchandise and preservatives. The corporate presents its prospects modern merchandise, options and companies within the skilled healthcare enterprise, over-the-counter (OTC) and hygiene options for the pharma sector. schülke’s mission is to guard lives worldwide and thereby actively contributes to affected person security. Immediately schülke is represented by 20 subsidiaries and sells its merchandise in additional than 100 nations. The corporate is headquartered in Germany, employs greater than 1,300 folks worldwide and operates manufacturing websites in Germany (schülke), France (Bioxal) and Brazil (Vic Pharma).
EQT is a purpose-driven world funding group with greater than EUR 75 billion in raised capital and presently greater than EUR 46 billion in property below administration throughout 16 lively funds. EQT funds have portfolio firms in Europe, Asia-Pacific and North America with complete gross sales of greater than EUR 27 billion and roughly 159,000 staff. EQT works with portfolio firms to attain sustainable development, operational excellence and market management. Go to www.eqtgroup.com for extra data.
This information launch accommodates forward-looking statements inside the which means of Part 27A of the Securities Act of 1933, as amended and Part 21E of the Securities Change Act of 1934, as amended. Ashland has recognized a few of these forward-looking statements with phrases comparable to “anticipates,” “believes,” “expects,” “estimates,” “is probably going,” “predicts,” “tasks,” “forecasts,” “aims,” “could,” “will,” “ought to,” “plans” and “intends” and the unfavorable of those phrases or different comparable terminology. These forward-looking statements embrace, however aren’t restricted to, statements regarding our expectation that the acquisition will turn out to be instantly accretive to earnings per share. As well as, Ashland could infrequently make forward-looking statements in its annual experiences, quarterly experiences and different filings with the SEC, information releases and different written and oral communications. These forward-looking statements are primarily based on Ashland’s expectations and assumptions, as of the date such statements are made, concerning Ashland’s future working efficiency and monetary situation, the strategic and aggressive benefits of the anticipated acquisition, in addition to the economic system and different future occasions or circumstances. Ashland’s expectations and assumptions embrace, with out limitation, inside forecasts and analyses of present and future market circumstances and developments, administration plans and techniques, working efficiencies and financial circumstances (comparable to costs, provide and demand, value of uncooked supplies, and the power to get well raw-material value will increase by way of worth will increase), and dangers and uncertainties related to the next: Ashland’s substantial indebtedness (together with the likelihood that such indebtedness and associated restrictive covenants could adversely have an effect on Ashland’s future money flows, outcomes of operations, monetary situation and its means to repay debt); the influence of acquisitions and/or divestitures Ashland has made or could make, together with the acquisition of Schülke & Mayr’s private care enterprise (together with the likelihood that Ashland could not understand the anticipated advantages from such transactions); and extreme climate (together with the current U.S. Gulf Coast storm), pure disasters, public well being crises (together with the present COVID-19 pandemic) and authorized proceedings and claims (together with environmental and asbestos issues). Numerous dangers and uncertainties could trigger precise outcomes to vary materially from these said, projected or implied by any forward-looking statements, together with, with out limitation, dangers and uncertainties affecting Ashland which can be described in Ashland’s most up-to-date Type 10-Ok (together with Merchandise 1A Threat Components) filed with the SEC, which is on the market on Ashland’s web site at http://investor.ashland.com or on the SEC’s web site at http://www.sec.gov. Ashland believes its expectations and assumptions are affordable, however there will be no assurance that the expectations mirrored herein might be achieved. Until legally required, Ashland undertakes no obligation to replace any forward-looking statements made on this information launch whether or not because of new data, future occasions or in any other case. Info on the respective web sites of Ashland, EQT and Schülke & Mayr is just not integrated into or part of this information launch.
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