USA - Surteco Group SE, via its subsidiary Surteco North America Inc., USA, acquires the Laminates business from Omnova Solutions Inc., USA.

A respective purchase agreement was recently signed. The completion of the Transaction is subject to customary closing conditions including regulatory approval.

The business units specialize in the production and sale of laminates, foils and vinyl-coated fabrics and employ a total of around 880 people at locations in the USA and Thailand. Sales in 2021 were USD 254 million and earnings before interest, taxes, depreciation and amortization (EBITDA) were USD 32 million.

The total purchase price amounts to USD 255 million. Surteco is financing the transaction via bridge financing.

The Surteco Group (2021: sales EUR 757.1 million; EBIT EUR 72.5 million; approx. 3,100 employees) wants to strengthen its market presence in the USA and in Asia, as well as expand the product portfolio with the takeover of these business areas.