Hexion Holdings Closes Transaction with American Securities
Summary
COLUMBUS, Ohio--(BUSINESS WIRE)--Hexion Holdings Corporation (“Hexion Holdings” or the “Company”) today announced the closing of the acquisition of the Company by affiliates of American Securities LLC for $30.00 per share in cash. Commenting on the transaction, Craig Rogerson, Chairman, President and Chief Executive Officer, said, “We look forward to continuing to serve our valued customers and accelerating our next phase of growth under American Securities’ ownership. During 2021, we dramatically streamlined our portfolio through the sale of our Epoxy, as well as Phenolic Specialty Resins and European Forest Products, businesses. “Over time, the Company has optimized its portfolio and transformed its operations, and we are thrilled to partner with Hexion to support the next chapter of the Company’s growth.” Based in Columbus, Ohio, Hexion is a global leader in thermoset resins. Hexion serves the global adhesive, coatings, and industrial markets through a broad range of thermoset technologies, specialty products and technical support for customers in a diverse range of applications and industries.