Lone Star completes acquisition of AOC
AOC, a global manufacturer of unsaturated polyester resins, vinyl ester resins and other solutions, will continue to operate under the AOC name, with management of facilities in North America, Europe and Asia.
Photo Credit: AOC AG
On Oct. 15 AOC AG (Schaffhausen, Switzerland) announced that private equity firm Lone Star Fund XI has completed the acquisition of the company’s shares from CVC Capital Partners after consultation with the AOC workers’ councils, and approval of relevant regulatory authorities.
“Lone Star appreciates AOC’s approach to value-add product delivery, and the company aligns well with Lone Star’s portfolio of specialty chemical and manufacturing businesses,” says Donald Quintin, president, opportunity funds, Lone Star. “We look forward to working with the AOC team as the company continues to execute its growth strategy.”
AOC is a global manufacturer of unsaturated polyester resins, vinyl ester resins and other solutions for applications in coatings and protective barriers, colorants and visual effects, adhesives, and conventional composite resins. After the transaction, the company will continue to operate under the AOC name, managing multiple production facilities in North America, Europe and Asia.
“We recognize that our customers, suppliers and business partners have been a big part of our success in recent years,” comments Joe Salley, CEO of AOC. “Therefore, I want to thank them for their excellent support and continued confidence in AOC. We are excited about the prospects for AOC and our partnership with Lone Star to create an even stronger company.”
