Connecting you to the composites industry


Apollo Management to Acquire Borden Chemicals

  • Monday, 12th July 2004
  • Reading time: about 2 minutes

Apollo Management, L.P., a private investment firm, has signed a definitive agreement to acquire Borden Chemical, Inc., a leading supplier of thermoset and other high performance resins, adhesives and specialty chemicals.

Included in the acquisition group are certain members of Borden Chemical management. The acquisition, with a purchase price of approximately $1.2 billion, including the assumption of outstanding debt, is subject to regulatory approval and other customary closing conditions. The transaction is targeted to be completed in the third quarter.

“”We are very excited at the potential of partnering with Apollo Management, a knowledgeable and broad-based investor in the chemicals industry,”” said Craig Morrison, President & CEO of Borden Chemical. “”Given our operational momentum in recent years, we expect to continue with our current strategy and management team. The transition should have no impact on our relationships with our customers and suppliers, with whom we will continue to work closely and effectively, or on our employees. Our people have made important contributions to Borden Chemical’s growth and progress, and with their support and dedication we anticipate our business will continue to prosper.””

“”Borden Chemical is a world class asset with an exceptional management team,”” said Joshua Harris, a founding partner of Apollo. “”We are supportive of management’s current strategy and are pleased to become a long-term investor in the Company. We look forward to helping Borden expand its solid market position.””

For more information visit:

Share this article

More News

Comments (0)

Sign in or create an account to join in the discussion.

Leave your comment


Upcoming Events




Follow us
Subscribe to our email newsletter

Subscribe to receive our weekly round-up of all the industry's latest news, jobs, events and more!

We'll always keep your personal details secure and will never share them with third parties for marketing purposes. You can unsubscribe at any time. For further details on how we may use your data, please visit our Privacy Policy.