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03-18-2015

A. Schulman Acquires American Specialty Engineered Plastics Company

A. Schulman, Inc., Akron, OH/USA, a supplier of high-performance plastic compounds, powders and resins, has reached a definitive agreement to acquire all of the issued and outstanding capital stock of privately held Citadel Plastics Holdings, Inc., a portfolio company of private equity firms HGGC and Charlesbank Capital Partners, for USD 800 million.

Based in West Chicago, IL, Citadel is a North American specialty engineered plastics company that produces thermoset composites and thermoplastic compounds for specialty product applications spanning multiple industries including transportation, industrial & construction, consumer, electrical, energy and healthcare & safety. In 2014, Citadel had approximately USD 525 million of pro-forma revenue (giving effect to their recent acquisition) and pro-forma earnings before interest, taxes, depreciation, and amortization ("EBITDA") of approximately USD 75 million.

Bernard Rzepka (figure: A.Schulman)

Bernard Rzepka (figure: A.Schulman)

The deal, which is expected to close in the third quarter of A. Schulman's fiscal 2015, "marks a significant strategic milestone as we continue to transform the Company beyond plastic compounding into a premier specialty plastics organization," said Bernard Rzepka, president and chief executive officer of A. Schulman. "In early 2014, we communicated our Expanded Vision which defined target areas to drive growth for A. Schulman beyond our traditional space. Citadel provides us a unique opportunity to enhance our future growth paths for A. Schulman."

Established in 2007, Citadel has quickly become an industry leader in multiple attractive, niche applications, including: high performance auto structural, electrical power distribution, downhole oil & gas components, and medical patient transport systems. The company's expertise in material science enables it to deliver customized application-specific solutions with a wide range of performance properties, as well as an unmatched array of technical and formulation capabilities. The company has 1,200 employees and operates 21 manufacturing facilities throughout the world, including 10 thermoplastic facilities in the United States and Canada, and 11 thermoset composite plants comprising seven in North America, one in Germany, one in Brazil, and a joint venture consisting of two plants in China.

Company profile

A. Schulman GmbH & Co KG

Hüttenstr. 130-138
DE 50170 Kerpen
Tel.: 02273 561-0
Fax: 02273 561-350

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