CDI Global Guides Successful Acquisition of PerformanX Specialty Chemicals, LLC by Stepan Company
By: CDI Global
"CDI Global was honored to have advised a truly experienced and creative chemical management team in Performance Specialty Chemicals on its divestiture to Stepan Company," said Paul Muir, Partner and Co-Head CDI Global Chemical Practice.
The acquisition includes intellectual property, commercial relationships, and inventory. Financial terms of the transaction were not disclosed.
"Alkoxylates are a core surfactant technology critical to Stepan's agriculture, oilfield, construction and household end use markets," said Scott R. Behrens, President and Chief Executive Officer of Stepan Company. "We are pleased to have closed the acquisition of PerformanX and welcome PerformanX's customers to Stepan."
Stepan Company is a major manufacturer of specialty and intermediate chemicals used in a broad range of industries. Stepan is a leading merchant producer of surfactants, which are the key ingredients in consumer and industrial cleaning and disinfection products and in agricultural and oilfield solutions. The Company is also a leading supplier of polyurethane polyols used in the expanding thermal insulation market, and CASE (Coatings, Adhesives, Sealants, and Elastomers) industries.
Headquartered in Northbrook, Illinois, Stepan utilizes a network of modern production facilities located in North and South America, Europe and Asia. The Company's common stock is traded on the New York Stock Exchange (NYSE) under the symbol SCL.
CDI Global acted as the exclusive advisor to PerformanX Specialty Chemicals.
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