Cabot Corporation, headquartered in Boston, Massachusetts, made an agreement to purchase Tech Blend, a leading North American producer of black masterbatches, for approximately $64 million. The takeover extends Cabot’s global footprint in black masterbatch and compounds; provides a platform to serve global customers and grow in conductive formulations, and offers Tech Blend resources and capabilities to support growth.
Tech Blend, at its manufacturing facility in Saint-Jean-sur-Richelieu, Québec, currently produces black masterbatches for applications in the automotive, infrastructure and agricultural industries.
Cabot currently makes products for use in applications including transportation, industrial packaging, electronics and electrical, and industrial safety. Currently, Cabot operates four black masterbatch manufacturing facilities located in Europe, the Middle East, and Asia.
Sean Keohane, Cabot President, and Chief Executive Officer, said, “This bolt-on acquisition is a great example of our ‘Advancing the Core’ strategy. This acquisition will not only strengthen our global leadership position in black masterbatches and compounds and provide a platform from which to better serve global customers, but it will also support our strategy of driving application innovation with our customers.”
“For nearly two decades, we have grown our business and capabilities to become a leading provider of high-quality black masterbatch products in North America,” said Tech Blend President and Chief Executive Officer Manouk Djoukhadjian. “Cabot has strong leadership positions, technology expertise and financial resources that can help to take the business to the next level.”
Nick Cross, President, Performance Chemicals segment, commented, “We are excited about the acquisition of Tech Blend as it fits strongly with our strategy of growing in the formulations space and provides a new platform for the business. Our companies are confident that with our combined capabilities we will continue to be a leading innovator and find new opportunities to grow.”