AOC Resin’s parent company, The Alpha Corp. of Collierville, Tennessee, recently signed a definitive agreement with CVC Capital Partners Fund VI to be acquired.
The transaction includes AOC LLC the primary asset and wholly owned subsidiary of The Alpha Corp.
Upon completion of the transaction, AOC, under the ownership of CVC, plans to work closely with Swiss-based Aliancys, a manufacturer of quality resins and a CVC portfolio company, to create a global leader in the industry. Aliancys’ products are sold to various composites end users in the automotive, building and construction, marine and relining/CIPP sectors.
“AOC is excited about the partnership with CVC Capital Partners as the company moves forward on a new path to future growth that will allow AOC to better serve new and existing customers, strengthen our supply chain, and create additional growth opportunities for our suppliers around the world,” said Fred Norman, CEO of AOC, “Aliancys has excellent customer relationships and represents a great strategic and complementary fit with AOC as a market leader in global resin chemistries.”
AOC is a leading global producer of resin chemistries for composites and cast polymer applications. Headquartered in Collierville, Tennessee, AOC manufactures polyester and vinyl ester resins, gel coats, colorant dispersions and specialty additives for customers manufacturing products used in the automotive, marine, corrosion, construction and infrastructure segments, among others. The company has production facilities in the United States, Canada, Mexico, Europe and Asia.
“AOC is an outstanding business with an experienced management team and world class manufacturing facilities. We believe that its combination with Aliancys will create a robust global company with the diverse product mix and exceptional geographic reach to serve markets in every corner of the world,” said Steven Buyse, partner at CVC. “We look forward to working with both AOC and Aliancys and continue to develop high performance composite resins.”
“AOC’s business culture is very compatible with that of Aliancys, as they share our commitment to innovation, continuous improvement and customer focus,” said Bert Bakker, CEO of Aliancys. “This is a winning combination for the industry.”
Greenhill & Co. served as exclusive financial advisor to the Board of AOC. Baker Hostetler acted as legal counsel to AOC while Latham & Watkins and Clifford Chance served as counsel to CVC and Aliancys. The transaction is subject to customary regulatory approvals.
SOURCE – AOC