Univar and Nexeo Solutions Announce Divestiture of Nexeo’s Plastics Distribution Business to One Rock Capital Partners
NEXEO SOLUTIONS INC (NXEO)
Last nexeo solutions inc earnings: 8/6 04:20 pm
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Source: GlobeNewswire
Transaction valued at approximately $640 millionTransaction expected to close in the first half of 2019; net proceeds will be used to immediately pay down debtNexeo Plastics is a leading global distributor of a broad range of plastics products, including polymer products and engineering resins, to plastics processors in more than 60 countries worldwideBusiness will continue to be led by Shawn Williams, executive vice president, Nexeo Plastics DOWNERS GROVE, Ill. and THE WOODLANDS, Texas, Feb. 08, 2019 (GLOBE NEWSWIRE) -- Univar Inc. (NYSE: UNVR) (“Univar”) and Nexeo Solutions, Inc. (NASDAQ: NXEO) (“Nexeo Solutions”) today announced an agreement for Nexeo Solutions to divest its plastics distribution business (“Nexeo Plastics”) to an affiliate of One Rock Capital Partners, LLC (“One Rock”) for an enterprise value of $640 million, subject to customary closing adjustments. Univar’s president and CEO, David Jukes, said: “Today’s announcement marks the conclusion of our strategic r
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