Momentive Specialty Chemicals said Wednesday that it had
completed the previously-announced sale of its North
American composites and coating resins business to PCCR USA, a
subsidiary of European investment group Investindustrial.
The business includes manufacturing locations in
Carpentersville, Ill., Ennis, Texas, Forest Park, Georgia, and
The business has annual sales of approximately $230mn and
employs 225 associates.
Advisors to Momentive on the transaction were The
PrinceRidge Group as transaction advisor, and O'Melveny &
Myers as legal advisor.
Advisors to Investindustrial on the transaction were Lincoln
International for M&A, Duff & Phelps Securities for
financing, and DLA Piper for legal.