ASIX - AdvanSix to acquire synthetic amines manufacturer
AdvanSix (NYSE:ASIX) has agreed to acquire U.S. Amines in a ~$100M all-cash deal. Subject to customary closing conditions, the acquisition is expected to close in Q122 and will be accretive to 2022 earnings. U. S. Amines manufactures and markets synthetic Alkyl and Allyl amines, with manufacturing locations in Bucks, Alabama and Portsmouth, Virginia. The business is estimated to generate revenue of ~$70M in 2022. AdvanSix expects the acquisition to boost its value chain by internalizing supply of products and raw materials, and add a unique platform in agrochemicals. The deal will also help it venture deeper into high-value applications such as electronics, pharmaceuticals, water treatment. AdvanSix reported its Q4 numbers today as well, with revenues up 24.6% Y/Y to $424.06M and significant earnings growth targeted in 2022.
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AdvanSix to acquire synthetic amines manufacturer