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Evonik has completed its acquisition of JM Huber Corporation’s silica business for US$630M.
JM Huber is one of the largest privately held companies in the USA, and Huber Silica achieved sales of close to US$300M and an adjusted EBITDA of US$60M in 2016.
The newly acquired business will be integrated into Evonik’s Resource Efficiency Segment immediately.
The acquisition is a perfect match for Evonik’s product portfolio.
Huber Silica is especially oriented towards applications in the consumer goods industry and the dental sector, for example, whereas Evonik’s silica business has been more focused on industrial applications, such as in the tyre and coatings industries.
Christian Kullmann, Chairman of the Executive Board of Evonik, said: "With the successful closing of the acquisition, we are strengthening our ‘Smart Materials’ growth engine by continuing to expand our globally leading position in the silica business.”
