Posted in | News | Plastics and Polymers | Business | Chemistry

Lion Chemical Sells Excel Polymers to HEXPOL AB for $220 Million

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Dec 2 2010

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Lion Chemical Capital, LLC, with offices in Houston and New York, is pleased to announce the closing of the sale of its portfolio company Excel Polymers, LLC to HEXPOL AB for approximately $220 million after adjustments.

HEXPOL is a world-leading polymer materials group headquartered in Sweden. Lion's investors received a return of greater than 4x on the Excel investment.

The company was originally purchased from PolyOne Corporation in 2004 where it was viewed as a non-core asset. Through the efforts of an excellent management team and an active Board of Directors, many strategic and operational changes were made that resulted in a strong and growing earnings history. HEXPOL will now become the leading merchant elastomer compounder worldwide with addition of the excellent team at Excel. Advisors on the transaction included investment bankers Jeffries & Co. and Moelis & Company and the law firm of Benesch, Friedlander, Coplan & Aronoff LLP.

Source:

http://www.lionchemicalcapital.com/

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