Huntsman Corp. has completed the purchase of Demilec, a manufacturer and distributor of spray polyurethane foam (SPF) insulation systems. Huntsman acquired the business from an affiliate of Sun Capital Partners Inc. for $350 million, subject to customary working capital adjustments, in an all-cash transaction funded from available liquidity.
The acquisition of Demilec is aligned with Huntsman’s stated strategy to grow its downstream polyurethanes business and expand Demilec’s portfolio of SPF formulations into international markets.
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.
For more information, visit www.huntsman.com.