AdvanSix, Parsippany, N.J., on Feb. 18 announced an all-cash $100 million acquisition of U.S. Amines, Axis, Ala., a North American producer of alkyl and specialty amines serving the agricultural chemical, pharmaceutical, electronics, water treatment, and rubber processing markets.
“U.S. Amines is a complementary and cohesive fit with our existing portfolio and supports further penetration in high-value end markets and applications,” said Erin Kane, Advansix President and CEO. “We will leverage our core strengths across its unique manufacturing capabilities to enable sales synergies and unlock incremental value. We see robust opportunities for incremental growth through increased utilization of assets, new market opportunities and high-return organic investments.
“The transaction will have minimal impact to our debt leverage and we are confident in our ability to attain strong returns,” she added. “Today’s announcement marks another step as we evolve and enhance our capital allocation strategy to support sustainable and robust shareholder returns over the long-term. We are eager to welcome the U.S. Amines team to AdvanSix and look forward to their contributions to our continued growth.”
The company said the acquisition strengthens its North American position, as the assets are adjacent to both its ammonium sulfate adjuvant and solvent businesses, with the ability to leverage regional scale.
U.S. Amines employs approximately 50 people in the U.S. at manufacturing locations in Bucks, Ala., and Portsmouth, Va. Estimated 2022 revenue for the business is approximately $70 million.