KKR-led group to buy LCY Chemical in $1.56 dln deal
Summary
LCY, of Taipei, China, is a specialty chemicals company with a concentration on thermoplastic elastomers and performance plastics used in infrastructure, health care, household, automotive, textile and electronic products.KKR is the ideal partner to help us build on our 50-year track record of producing high-quality chemical products for customers worldwide and take LCY to its next level of growth given KKR’s focus on responsible business and operational excellence.We believe that KKR’s partnership approach will enable LCY to make the necessary investments in R&D and other growth initiatives to maintain the technological capabilities, capacity and product differentiation needed to further the Company’s leadership position going forward.Founded in 1965, LCY is a producer of specialty chemicals with a concentration on thermoplastic elastomers and performance plastics used in infrastructure, health care, household, automotive, textile and electronic products, among other diverse applications.LCY will maintain its corporate headquarters in Taipei, its existing global distribution and sales networks and its production plants in Taiwan, mainland China and the United States.