Issue 14, 2020 - PolyOne completes acquisition of Clariant's Masterbatches business

PolyOne announced that it has completed the acquisition of Clariant's Masterbatches
business and Clariant Chemicals India, and announced that it has changed its name to Avient
.
The combined net purchase price was $1.
44 billion, equivalent to 10.
8 times 2019 adjusted EBITDA or 7.
5 times
the estimated synergies.

Robert M.
Patterson, Chairman, President and CEO of Avient, said, "We extend a warm welcome
to our new colleagues and key customers of Clariant's Masterbatches business.
The company has established a new brand image and brought together two global industry leaders to build a professional company focused on providing sustainable solutions to customers, creating the ideal working environment for employees and creating value
for all stakeholders.
With this acquisition, Avient now expects more than 85% of adjusted EBITDA to come from specialty applications
.
This is up significantly from less than 10% of the specialty products business when it first started 10 years ago
.
Building on our past organizational heritage, we have built a new brand, Avient, to build a world-class sustainable organization
for the future.
”