Milliken Agrees to Acquire Borchers
Plastics additives and colorants manufacturer Milliken has agreed to acquire Borchers Group, a global specialty chemicals company specializing in high-performance coating additives and specialty catalyst solutions.
Seller is The Jordan Company (TJC). All three companies are US-based, Milliken at Spartanburg, South Carolina, Borchers at Westlake, Ohio and TJC in New York. The acquisition is expected to close during the course of this month, subject to customary closing conditions. Financial terms have not been disclosed.
Borchers produces additives for the coatings, inks and adhesives markets and has a comprehensive range of cobalt-free driers, dispersants, rheology modifiers, wetting agents, polymerization catalysts and adhesion promoters.
Russ Rudolph, senior vice president of Milliken's chemical division, said the addition of the Ohio company’s expertise in specialty coating additives expands his company’s reach and further builds its comprehensive solutions portfolio as it pursues its strategic objective to develop a global range of growth platforms.
Devlin Riley, president and CEO of Borchers, added that the combination, in particular the and depth of Milliken's technology, will help it build out its own global brand.
