DuPont to acquire Laird Performance Materials
DuPont has entered into a definitive agreement with private equity firm Advent International, to acquire Laird Performance Materials for USD 2.3 billion.
The transaction is expected to close in the third quarter of 2021, subject to regulatory approvals and other customary closing conditions. Laird Performance Materials is focused on electromagnetic shielding and thermal management with an offering of performance components and solutions that manage heat and protect devices from electromagnetic interference. Laird Performance Materials has a workforce of over 4'300 employees with a global network of 11 manufacturing sites in North America, Europe, and Asia and 2020 revenues of USD 465 million. "The acquisition of Laird Performance Materials is a significant step in advancing DuPont's strategy to grow as a global innovation leader and premier multi-industrial company. Laird Performance Materials is a strategic and complementary addition to the Electronics & Industrial (E&I) business, and our applied material science expertise together with Laird Performance Materials' industry-leading application engineering capabilities further strengthens DuPont as an essential partner for major electronics OEMs and manufacturers," says Ed Breen, CEO of DuPont, in a press release. The transaction brings together DuPont's technology portfolio in films, laminates, and plating chemistry with Laird Performance Materials' electromagnetic shielding and thermal management solutions. The combined organisation aims to make waves in rapidly growing advanced electronics applications supporting smart/autonomous vehicles, 5G telecommunications, artificial intelligence, internet of things, and high-performance computing.