Reuters logo
REFILE-UK's Elementis to buy U.S.-based SummitReheis in $360 mln deal
February 10, 2017 / 8:10 AM / 7 months ago

REFILE-UK's Elementis to buy U.S.-based SummitReheis in $360 mln deal

(Corrects spelling of SummitReheis in the headline and in paragraphs 1 and 4)

Feb 10 (Reuters) - British speciality chemicals maker Elementis Plc said on Friday it would buy U.S.-based SummitReheis from an affiliate of private equity firm One Rock Capital Partners LLC for an enterprise value of $360 million to expand its personal care business.

Elementis said the deal would increase the annual sales of its personal care business to $200 million and boost its adjusted earnings in the current financial year.

The deal will be funded from cash resources and new debt facilities of $475 million, the company said.

SummitReheis makes personal care chemicals and counts Procter & Gamble and Colgate among its clients. (Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Amrutha Gayathri)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below