Lone Star completes acquisition of AOC15 October 2021
AOC announces today that Lone Star Fund XI has completed the acquisition of the company’s shares from CVC Capital Partners.
After consultation with AOC workers' councils, and approval of relevant regulatory authorities, the transaction has now been completed.
AOC is a leading global manufacturer of unsaturated polyester resins, vinyl ester resins, and other solutions for applications in Coatings & Protective Barriers, Colorants & Visual Effects, Adhesives, and Conventional Composite Resins. After the transaction, the company will continue to operate under the AOC name, managing multiple production facilities in North America, Europe, and Asia.
“Lone Star appreciates AOC’s approach to value-add product delivery, and the company aligns well with Lone Star’s portfolio of specialty chemical and manufacturing businesses,” said Donald Quintin, President, Opportunity Funds, Lone Star. “We look forward to working with the AOC team as the company continues to execute its growth strategy.”
“We recognize that our customers, suppliers and business partners have been a big part of our success in recent years,” comments Joe Salley. “Therefore, I want to thank them for their excellent support and continued confidence in AOC. We are excited about the prospects for AOC and our partnership with Lone Star to create an even stronger company.”
AOC is the leading global supplier of specialty resins and solutions which enable customers to create robust, durable, and versatile products and components for applications in Coatings and Protective Barriers, Colorants and Visual Effects, Adhesives and Specialties, and Composite resins. With strong capabilities worldwide in manufacturing and science, the company works closely with customers to deliver unrivalled quality, service, and reliability for today and create innovative solutions for tomorrow.
About Lone Star
Lone Star is a leading private equity firm advising funds that invest globally in real estate, equity, credit and other financial assets. Since the establishment of its first fund in 1995, Lone Star has organized 21 private equity funds with aggregate capital commitments totalling approximately $85 billion. The firm organizes its funds in three series: the Commercial Real Estate Fund series; the Opportunity Fund series; and the U.S. Residential Mortgage Fund series. Lone Star invests on behalf of its limited partners, which include institutional investors such as pension funds and sovereign wealth funds, as well as foundations and endowments that support medical research, higher education, and other philanthropic causes. For more information regarding Lone Star Funds, go to www.lonestarfunds.com.
CVC is a leading private equity and investment advisory firm with a network of 24 offices throughout Europe, Asia and the US, with approximately US$115 billion of assets under management. Since its founding in 1981, CVC has secured commitments in excess of US$163 billion from some of the world's leading institutional investors across its private equity and credit strategies. Funds managed or advised by CVC are invested in over 90 companies worldwide, which have combined annual sales of approximately US$100 billion and employ more than 450,000 people. For further information about CVC please visit: www.cvc.com.
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