Evonik has signed an agreement with One Equity Partners (JPMorgan's private commercial banking unit) to acquire US-based PeroxyChem for $ 625 million. PeroxyChem is a producer of hydrogen peroxide (H2O2) and peroxyacetic acid (PAA), and has a good market position in high-margin specialty applications.
The acquisition is expected to have a positive impact on Evonik's adjusted earnings per share and free cash flow in the first full fiscal year after completion. The funds for the acquisition have been raised through cash and confirmed credit lines.