A Squire Patton Boggs cross-office team, led by Cleveland partner and head of the firm’s Chemicals Practice Carolyn Buller and San Francisco senior attorney Laura Kacenjar, advised plastic compounds and chemical maker A. Schulman Inc. in its acquisition of private equity-backed Citadel Plastics Holdings Inc. This is the second deal the firm has done recently for the company as it continues to expand and diversify its US portfolio into the high-value specialty plastics market. The deal involves a definitive agreement to pay US$800 million to acquire all of the issued and outstanding capital stock of Citadel from private equity firms HGGC and Charlesbank Capital Partners.
In addition to Ms. Buller and Ms. Kacenjar, the Squire Patton Boggs team included Karina Abolina, Carl Draucker, Lynn Gattozzi, Allen Kacenjar, Mike Meissner and Matt Secrist, along with Chris Gordon, Dan Pasternak, Oliver Geiss, and Greg Conners. The team was comprised of lawyers from the Cleveland, Phoenix, Brussels, and Washington DC offices.
As a result of the transaction, A. Schulman will add a leading North American specialty-engineered plastics company that produces thermoset composites and thermoplastic compounds used in the transportation, industrial, construction, consumer, electrical, energy, healthcare and safety industries to its offering.