Milliken & Company (“Milliken”) has formally acquired Borchers Group Limited (“Borchers”), a global specialty chemicals company known for its innovative high-performance coating additives and specialty catalyst solutions from The Jordan Company, L.P. (“TJC”).
The transaction officially closed on Tuesday, January 28, 2020.
As Borchers integrates into Milliken, daily operations will continue without interruption, including relationships with existing suppliers and customers.
Headquartered in Westlake, Ohio, Borchers carries a respected portfolio of additives for the coatings, inks and adhesives markets with a comprehensive range of cobalt-free driers, dispersants, rheology modifiers, wetting agents, polymerization catalysts and adhesion promoters.
Jones Day represented Milliken in the transaction. Moelis & Company LLC acted as financial advisor, and Mayer Brown LLP acted as legal advisor to Borchers and TJC.
Halsey Cook, Milliken & Company president and CEO on closing the deal, said: “When great teams come together, big things happen. I’m excited to combine Borchers’ capabilities with Milliken’s long-term view and focus on innovation and sustainability.”
Russ Rudolph, senior vice president, Milliken’s Coating Additives Business, added: “Borchers brings expertise, products and customer knowledge in the paint and coatings industry. Combined with Milliken’s commitment to investment in long-term sustainable innovation and specialty chemicals global reach, this acquisition will accelerate solutions for the markets and customers we serve.”