Miami, Jan 06 — Element Solutions Inc (NYSE:ESI) (the “Company” or “ESI”), a global and diversified specialty chemical technology company, announced today that it has completed its previously announced acquisition of EFC Gases & Advanced Materials (“EFC”). EFC will operate as a standalone business unit reported within the Company’s newly renamed “Specialties Segment” which was heretofore the “Industrial & Specialty Segment.”
Chief Executive Officer Benjamin Gliklich said, “We are thrilled to welcome EFC to the Element Solutions family of businesses. Their solutions-orientation, team culture and go-to market approach fit seamlessly with our company, while this acquisition brings high value, differentiated capabilities in specialty and rare gases together with advanced materials and introduces attractive new growth vectors in semiconductor manufacturing, electrical transmission infrastructure, and space applications to ESI. EFC will join our newly formed ‘Specialties’ segment, comprised of businesses focused on niche, high-value markets with demanding customer qualification requirements and an emphasis on value-added technical service which together create high-quality recurring revenue streams. We expect the segment to grow in the mid-single digits with adjusted EBITDA margins in excess of 20% and a durable cash flow profile. Our portfolio evolution over the past several years has significantly improved our overall business quality from a growth and profitability perspective as is quite evident in this new ‘Specialties’ segment.”