Huntsman Corporation (NYSE:HUN) entered into an agreement to acquire Gabriel Performance Products, LLC from funds owned by Audax Management Company, LLC for $250 million on December 7, 2020. Under terms of the agreement, Huntsman will pay $250 million, subject to customary closing adjustments, in an all-cash transaction funded from available liquidity. Gabriel had 2019 revenues of approximately $106 million. Based on calendar year 2019, the purchase price represents an adjusted EBITDA multiple of approximately 11 times, or approximately 8 times pro forma for synergies. The transaction is subject to regulatory approvals. As of January 11, 2021, FTC granted early termination notice. The transaction is expected to close in the first quarter of 2021. In this transaction Clifford Chance US LLP acted as legal advisor to Huntsman Corporation (NYSE:HUN.

Huntsman Corporation (NYSE:HUN) completed the acquisition of Gabriel Performance Products, LLC from funds owned by Audax Management Company, LLC on January 15, 2021. Under the terms of agreement, the acquired business of Gabriel Performance Products will be integrated into our Advanced Materials segment. Healy, John A. (Partner) ;Kilmer, Stephanie ; Makar, Jake; Cha, Curtis Kyuyong; Wagman, Philip; Borchert, Dan; Adler, Howard; Jain, Atul; Manthas, Victoria; Torkieh, Solomon; Fairbairn, Daryl; Saionz, Jennifer; Cosentino, Joseph; Lee, Benjamin; McGowan, Thomas; Cornell, Timothy; Pyon, Esther S.; Sillman, Lauren of Clifford Chance, New York acted as legal advisor to Huntsman.