Ukip is selling its methyl acrylic business for 3 billion euros

On March 4th, local time, German specialty chemicals company Win signed a deal with Advent International to sell its methyl acrylates business for 3 billion euros. This price is 8.5 times the EBITDA for this business.
the deal will include methyl acrylates, acrylic products, the CyPlus product line and some methyl acrylic businesses
China
. The deal is subject to approval by authorities in several countries and is expected to close in the third quarter of this year.
's methyl acrylates business has 18 production sites and 3,900 employees worldwide. From 2016 to 2018, the business had an average annual EBITDA of approximately EUR 350 million and annual sales of approximately EUR 1.8 billion. Ingtrone expects sales and EBITDA to remain at similar levels in 2019.
said the difference between the sale price and the net sale price (equity value) of about 500m euros was mainly due to pension obligations. Win will use the proceeds from the sale to strengthen its financial position and invest in growth projects. This includes paying a bid for Peroxy Chem in the US, which is due to close this year. In addition, the proceeds will be used to strengthen the existing specialty chemical portfolio, such as the construction of a new polyamide 12 plant in Marr, Germany. These businesses all have good returns and above-average cash flow.
also said that in 2019, even without the proceeds from the sale of its methyl acrylates business, Ukip's strong free cash flow would still be enough to pay dividends. In order to implement its corporate strategy of focusing on low-cyclical specialty chemicals, Uctron decided to sell these businesses.
is one of the world's most experienced private equity firms in the chemical industry and has invested in more than 30 chemical projects over the past 30 years.