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Chem Polymer
The Company
Based in the UK, Chem Polymer Group Limited (the “Company”) has operations in the UK and the U.S. The Company is a leading thermoplastics compounding company which produces engineered thermoplastics by blending a base polymer with additives to provide a range of enhanced functional properties to that base polymer. The Company’s products are sold into many industries, including automotive, electrical and packaging.
“KPMG Corporate Finance exhibited outstanding negotiating skills and keen insight into the perspective of each of the interested buyers so that we could maximize price and deal terms while still closing the transaction on the targeted time table.”
The Situation
KPMG Corporate Finance was engaged to identify and approach buyers for the Company’s UK and U.S. businesses, either as individual businesses or a combined package. As such, KPMG Corporate Finance in the UK and KPMG Corporate Finance in the U.S. ran two separate sale processes to explore options for the Company’s shareholders. We conducted a controlled auction by contacting potential buyers in many parts of the world.
The Solution
After receiving separate and combined offers for the Company’s two businesses, it was determined that a sale of assets of Chem Polymer’s UK operations and a sale of equity of Chem Polymer’s U.S. operations was the best way to maximize value. Consequently, the two businesses were sold to Teknor Apex Company, a U.S. based privately-owned international custom compounder of plastics and rubber materials. KPMG Corporate Finance provided advice to the Company throughout the entire process, including preparing offering materials, contacting potential buyers, managing meetings and leading negotiations with potential buyers, analyzing the offers received and working closely with both the Company’s UK and U.S. based legal counsel on the definitive agreements.
