Huntsman Corp. plans to acquire Gabriel Performance Products, an additives manufacturer based in Akron, OH. Gabriel makes specialty additives and epoxy curing agents for coatings, adhesives, sealants, and composites. Huntsman will purchase Gabriel for $250 million from Audax Private Equity of Boston and San Francisco. Gabriel has manufacturing plants in Ashtabula, OH; Harrison City, PA; and Rock Hill, SC. According to Huntsman, the acquisition will allow the company to broaden its specialty portfolio. The acquisition is expected to be complete in the first quarter of 2021.
Huntsman, The Woodlands, TX, is a global chemicals company with four divisions, polyurethanes, advanced materials, performance products, and textile effects (chemicals, dyes, and inks).