Milliken & Company (Spartanburg, South Carolina, USA) has signed an agreement to acquire Borchers Group Limited (Westlake, Ohio, USA) from The Jordan Company (TJC) (New York, New York, USA). With its planned acquisition of Borchers, Milliken will bolster its portfolio of specialty coating additives.
Established in 1865, Milliken is an industrial manufacturing firm with expertise across a breadth of disciplines, including specialty chemicals, floor covering, healthcare, and performance and protective textiles. Borchers, a global specialty chemicals company founded in 1940, has developed a formidable portfolio of additives for the coatings, inks, and adhesives markets, along with a range of cobalt-free driers, dispersants, rheology modifiers, wetting agents, polymerization catalysts, and adhesion promoters.
In addition to expanding its expertise in specialty coating additives, the acquisiotn of Borchers builds Milliken’s portfolio of comprehensive solutions and develops a global range of growth platforms. “I’m thrilled to accelerate our commitment to innovation and sustainability with the acquisiotn of a company so aligned with our values,” says Milliken President and CEO Halsey Cook. “Borchers brings particular technical expertise that will boost Milliken’s strengths and propel our growth.”
For their part, Borchers executives believe the Milliken acquisition will be mutually beneficial. “We are ecstatic about partnering with Milliken to further invest in our business, build out our global platform, and continue providing innovative and satisfying solutions to our customers,” says Borchers President and CEO Devlin Riley. “Combining our capabilities and approach with the depth of Milliken’s technology and innovation will allow us to provide exemplary solutions to the markets we serve.”
The acquisition is expected to be finalized this month once it has satisfied customary closing conditions. Financial terms of the deal were not immediately disclosed.
Source: Milliken & Company, www.milliken.com.