Omnova in Talks to Acquire Eliokem from AXA Private Equity

Omnova Solutions says that it has entered into an agreement with AXA Private Equity (Paris) granting the company a period of exclusivity to acquire specialty chemicals maker Eliokem International for €227.5 million ($300 million). Eliokem’s product line includes coating resins, elastomeric modifiers, antioxidants, rubber reinforcing resins, oil and gas drilling chemicals, and latices for specialty applications. Last twelve months sales and adjusted Ebitda through May 2010 for Eliokem were approximately $268 million and $50 million, respectively....

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