Advent Spends $1B On Cytec Resins As Industrial Buys Roll

Law360, New York (October 9, 2012, 5:55 PM EDT) -- Advent International Corp. will spend $1.03 billion to acquire the resins business of Cytec Industries Inc., the parties said Tuesday, marking the latest buyout in specialty industrials, a core part of a recent uptick in mergers and acquisitions activity.

Cytec, a New Jersey-based specialty chemicals maker, said in May that it would look to sell the unit after rising costs and slowing demand in Europe. The coatings business accounted for about half of Cytec's $3 billion in sales last year, according to public documents.

Cytec has...
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