Huntsman Corp. has acquired Demilec, a manufacturer and distributor of spray polyurethane foam (SPF) insulation systems for residential and commercial applications, from an affiliate of Sun Capital Partners Inc.

Demilec has annual revenues of approximately $170 million and two manufacturing facilities located in Arlington, Texas, and Boisbriand, Quebec, where it produces a full suite of SPF formulations marketed directly to applicators as well as through distributors.

Under the terms of the agreement, Huntsman will pay $350 million in an all-cash transaction, funded from available liquidity. Based upon full-year 2018 EBITDA estimates, this represents a purchase price multiple of approximately 11.5 or 7.5 times, pro forma for synergies. The transaction is expected to close by the end of the second quarter of 2018.

For more information, visit www.huntsman.com or call (281) 719-6000.