US Cytec's coatings unit to attract private equity, Asian buyers

21 May 2012 21:20  [Source: ICIS news]

HOUSTON (ICIS)--US-based Cytec Industries' coatings resins business will likely attract private-equity firms and producers in Asia, an investment firm said on Monday.

The business could sell for a price that is 4.5-6.0 times its earnings before interest, tax and depreciation (EBITDA), said KeyBanc Capital Markets.

KeyBanc estimated that the coatings business's annual EBITDA was $150m-200m (117m-156m).

Earlier, Cytec said it has put the business up for sale, and it expected the transaction to take place by the end of the year.

The company said it was considering such a sale in October.

($1 = €0.78)

By: Al Greenwood
+1 713 525 2645

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