06.30.17
PolyOne Corporation, a global provider of specialized polymer materials, services and solutions, will sell its Designed Structures and Solutions (DSS) business, which includes sheet, rollstock and packaging assets, to Arsenal Capital Partners for $115 million.
"The decision to divest DSS comes after evaluating several strategic options for the business and concluding this is the best course of action for our customers, associates and shareholders," said Robert M. Patterson, chairman, president and chief executive officer, PolyOne. "I'm pleased that we have come to agreement with Arsenal who is very well positioned to complete the transformation work we have begun and serve DSS customers going forward."
The sale of DSS is subject to satisfaction of regulatory requirements and other customary closing conditions, which the company expects to be completed in the third quarter of 2017. Proceeds from the sale will be used to pay down short term borrowings and fund ongoing growth initiatives.
"The decision to divest DSS comes after evaluating several strategic options for the business and concluding this is the best course of action for our customers, associates and shareholders," said Robert M. Patterson, chairman, president and chief executive officer, PolyOne. "I'm pleased that we have come to agreement with Arsenal who is very well positioned to complete the transformation work we have begun and serve DSS customers going forward."
The sale of DSS is subject to satisfaction of regulatory requirements and other customary closing conditions, which the company expects to be completed in the third quarter of 2017. Proceeds from the sale will be used to pay down short term borrowings and fund ongoing growth initiatives.
