M&As: Teknor Apex acquires colourant firm; Celanese completes acquisition of ExxonMobil’s TPV business for US$1 bn

US-based compounder Teknor Apex has acquired Lanier Color Company, located in Gainesville, GA, US. Lanier is a supplier of colour concentrates and specialty compounds for the thermoplastics industry with a focus in the building and construction market. Terms were not disclosed.

“We are thrilled to add this business into our Teknor Color portfolio,” said Suresh Swaminathan, President of Teknor Apex. “Lanier Color Company’s focus on superior quality and customer centricity directly aligns with our approach. This acquisition comes on the heels of the acquisition of Dorum Color this past August and will help us further accelerate our strategic objectives while giving our customers access to a greater level of diversified products and solutions. Also, the combined strength of the two organizations will bring more capability and capacity in product innovation leading to an enhanced customer experience.”

The addition of Lanier expands Teknor Apex’s portfolio to now include PVC colour concentrates while adding to its specialty compounds offerings specific to the building and construction market. Also, the existing Lanier Color Company customer base will now have access to the broader portfolio of Teknor’s PVC compounds and state of the art product and application development capabilities. The company will continue to operate in its current location of Gainesville, GA and will work in coordination with Teknor Color’s current manufacturing locations in Kentucky and Texas.

“Lanier Color Company has become a leading solutions provider in the colour concentrate and compound market. Joining forces with Teknor Apex allows us to focus our combined resources on bringing effective and innovative solutions to the market while maintaining a high level of service to our customers,” said John Cothron, President of Lanier Color Company.

“The Lanier Color Company has a fantastic reputation both with customers, and in the market overall. This is part of the reason that we were so attracted to the company and feel it is a great addition to the Teknor family. One of the reasons that makes this acquisition such a great fit is that both brands stand for many of the same great core strengths, specifically high-quality products, integrity, trusted partnerships and providing excellent customer service,” adds Swaminathan.

Teknor Color is a subsidiary of Teknor Apex Company and offers a full line of custom and standard colours, as well as additives and special effects for a wide spectrum of polymers, that include olefins, styrenics, PET and engineering plastics.

Meanwhile, US speciality chemicals firm Celanese Corporation has completed the acquisition of the Santoprene TPV elastomers business of ExxonMobil Corporation.

The company announced the acquisition of the Santoprene business in June 2021 for a total purchase price of US$1.15 billion. As part of the transaction, Celanese has acquired the following:

“We are excited to welcome the Santoprene team to Celanese,” said Lori Ryerkerk, Chairman/CEO. “They have built an industry-renowned brand and product portfolio in the Santoprene business that will immediately strengthen the unrivaled portfolio of engineered solutions we bring to our customers. We look forward to the partnership of our commercial and technical teams to take a wider range of Engineered Materials’ solutions into targeted growth areas that will generate meaningful shareholder value.”

(PRA)

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