Platform Specialty Products
Coordinates: 25 ° 46 ′ 53.7 ″ N , 80 ° 16 ′ 50.8 ″ W.
| Platform Specialty Products
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|---|---|
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| legal form | Corporation |
| ISIN | US72766Q1058 |
| founding | 2013 |
| Seat |
Palm Beach , Florida ,
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| management | Rakesh Sachdev |
| Number of employees | 8,500 |
| sales | 3.6 billion US dollars |
| Branch | Chemical industry |
| Website | www.platformspecialtyproducts.com |
| As of December 31, 2016 | |
Platform Specialty Products is a US chemical company based in Palm Beach , Florida . The company's beginnings go back to 2013 when the platform Acquisition Holdings Limited was founded by Martin E. Franklin and Nicolas Berggruen . This served as an investment vehicle with the ultimate goal of acquiring companies from the chemical industry.
In addition to Berggruen and Franklin, Michael F. Goss, Ian GH Ashken, Daniel H. Leever and Ryan Israel sit on the Supervisory Board. The largest shareholder is Pershing Square Capital Management from Bill Ackman (20.27%).
history
The history of PSP is a young one. Since 2013, the Acquisition Holdings platform has grown through numerous takeovers, creating the Specialty Products Corporation platform.
Timeline
- 2013
Acquisition of MacDermid Inc.
- 2014
Acquisition of Chemtura AgroSolutions
Takeover of Agriphar Group
- 2015
Takeover of Arysta LifeScience
Takeover of Alent plc.
Acquisition of parts of the OM Group , Inc. (electronic materials and photo masks)
- 2016
Integration of the acquired business units into the two divisions MacDermid Performance Solutions and Arysta LifeScience .
- 2017
In the course of the realignment and focus on the specialty chemicals business, the Supervisory Board decided in July 2017 to sell the Agriculture division. The first bids have already been accepted. The sales value of Arysta LifeScience is estimated at $ 4.0-4.4 billion. The proceeds will primarily go towards debt reduction, a share buyback program and other small to medium-sized acquisitions in the specialty chemicals business.
Divisions
MacDermid
In 2013, the Acquisition Holdings platform took over MacDermid Inc., based in Waterbury, Connecticut, for $ 1.8 billion and then renamed itself Platform Specialty Products (PSP). This was the first ever company acquisition by PSP.
MacDermid develops and sells procedures and processes for the surface industry. With more than 2,000 employees worldwide, the company is one of the leading suppliers of specialty chemicals for the pretreatment and refinement of metallic surfaces and plastics.
Arysta LifeScience
In 2014 PSP bought the Belgian plant protection product manufacturer Agriphar for more than 400 million US dollars, after it had already taken over the agrochemicals division ("Chemtura AgroSolutions") from Chemtura in April of the same year for 1.0 billion US dollars . With the takeover of the Japanese Arysta LifeScience at the beginning of 2015, Agriphar and Chemtura AgroSolutions were integrated into the newly created Arysta LifeScience division. The merged companies have more than 3,400 employees worldwide. Arysta LifeScience is thus one of the top 10 largest manufacturers of crop protection products in the world.
Well-known products from Arysta are Atonik , Captan ( Malvin ), Dinamic , Everest , Evito ( Tebuconazole / Fluoxastrobin ), Foltron ( folcysteine + nutrients), Orthene and Select .
Alent
In July 2015 the takeover of the British company Alent was announced. The purchase price was $ 2.3 billion. The closing of the transaction was announced on December 1, 2015. Following the acquisition, Alent's Enthone division will be merged with the MacDermid division to form a newly created business unit called MacDermid Performance Solutions . The merged company will then be one of the top 2 providers of chemical surface coating, with more than 4,500 employees worldwide and sales in the billions. The Alpha Metals division , which mainly produces solders , will remain independent within the new group.
Works (selection)
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Waterbury, Connecticut (MacDermid Electronic Materials, )
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Seraing near Liège (Agriphar, )
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Noguères near Pau (Arysta LifeScience, )
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Saint-Malo (Arysta LifeScience, )
Individual evidence
- ↑ Management of the Platform Specialty Products Corporation ( Memento of the original from October 8, 2014 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ a b Form 10-K 2016 ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.
- ↑ "Case Study - Platform Acquisition Holdings Ltd" on p. 28
- ↑ Credit Suisse Basic Materials Conference , September 18, 2015
- ^ Board of Directors
- ^ Yahoo Finance: Major Holders
- ↑ bizjournals.com: Ackman is two weeks away from cashing in on chemical investment , accessed August 6, 2017.
- ^ Jack Kaskey: Platform to Buy Chemical Maker MacDermid for $ 1.8 Billion. Bloomberg Businessweek , October 11, 2013, accessed February 24, 2015 .
- ↑ Shaun Bevan: Miami company to buy agrochemical manufacturer in $ 401M deal. South Florida Business Journal, August 6, 2014, accessed February 24, 2015 .
- ^ Platform Specialty Products Corporation Announces Agreement to Acquire Agrochemicals Business From Chemtura for Approximately $ 1 Billion. Platform Specialty Products, April 17, 2014, accessed February 24, 2015 .
- ^ Arysta Life Science to be Acquired by Platform Specialty Products. Arysta LifeScience, October 20, 2014, accessed February 24, 2015 .
- ^ Platform Specialty Products Corporation Signs Definitive Agreement to Acquire Arysta LifeScience Limited for Approximately $ 3.51 Billion. Platform Specialty Products, October 20, 2014, accessed February 24, 2015 .
- ↑ www.atonik.eu
- ^ Arysta Global Products
- ^ Alent Investor Presentation , July 2015
- ↑ Berggruen company strikes: Platform wants to buy chemical company Alent. In: n-tv.de. July 13, 2015, accessed December 11, 2015 .
- ↑ Macdermid Parent Buys Enthone Group , July 16, 2015
