https://www.avient.com/news/avient-present-broad-array-innovative-and-sustainable-materials-solutions-chinaplas-2025
Versaflex™ TPEs: can reduce vibration in consumer goods such as household appliances and power tools by up to 80% compared to traditional thermoplastic vulcanizates (TPVs)
https://www.avient.com/news/avient-feature-specialty-technologies-and-services-healthcare-mdm-west-2023
Versaflex™ HC TPEs are compliant and easily colorable formulations for injection molding or overmolding uses.
https://www.avient.com/industries/healthcare/drug-delivery-systems/inhalation-devices
Versaflex™ HC Thermoplastic Elastomers
https://www.avient.com/sites/default/files/resources/PolyOne%25202012%2520Annual%2520Report.pdf
This
segment includes GLS Corporation (GLS), which we acquired in 2008.
We believe GLS offers the
broadest range of soft-touch thermoplastic elastomers in the industry.
In September 2010, we issued $360 million of senior unsecured notes at par that mature in September
2020 and bear interest at 7.375% per annum, payable semi-annually in arrears on March 15th and
September 15th of each year.
https://www.avient.com/sites/default/files/2021-04/avient-sustain-2019-210419-interactive.pdf
We also conduct 360 assessments to help
individuals assess their individual development and progression based on feedback
from key stakeholders.
Associates engage in a 360 assessment feedback process and are assigned an executive mentor,
where they identify a project that helps develop key aspects of their leadership.
Versaflex™ HC Thermoplastic Elastomers are formulated to meet demanding
healthcare device and application challenges without phthalate plasticizers.
https://www.avient.com/sites/default/files/2020-10/2019-avient-sustainability-report.pdf
We also conduct 360 assessments to help
individuals assess their individual development and progression based on feedback
from key stakeholders.
Associates engage in a 360 assessment feedback process and are assigned an executive mentor,
where they identify a project that helps develop key aspects of their leadership.
Versaflex™ HC Thermoplastic Elastomers are formulated to meet demanding
healthcare device and application challenges without phthalate plasticizers.
https://www.avient.com/sites/default/files/2022-04/Avient Acquisition of Dyneema and Q1 2022 Results_0.pdf
Morgan
• New Senior Secured Term Loan B and new Senior
Unsecured Notes
• Potential proceeds from sale of Distribution business
modeled to pay off 5.25% senior notes due 2023 and
Term Loan
• Acquisition aligned with Avient’s track record of
disciplined capital allocation policy
• Existing dividend policy maintained, focus on
deleveraging in the near term
(1) Pro forma for the acquisition of Dyneema® and potential divestiture of Distribution,
including repayment of senior notes due 2023 and Term Loan
Cash and Cash Equivalents 595$
Senior Secured Term Loan due 2026 605$
New Senior Secured Term Loan B 500
Total Senior Secured Debt 1,105$
Senior Unsecured Notes due 2025 650$
New Senior Unsecured Notes 740
Total Senior Unsecured Debt 1,390$
Total Debt 2,495$
Net Debt 1,900$
2022 Pro forma Adjusted EBITDA 660$
Net Debt / Adjusted EBITDA 2.9x
Pro Forma Capitalization
(2022 estimates, all figures in $M)
TWO-YEAR LEVERAGE GOAL
24
3.5x
2.7x
1.7x
2.9x
2.5x
2.2x
2019PF 2020PF 2022E 2022PF 2023E 2024E
Dyneema® AcquisitionClariant Color Acquisition
(1) Pro forma for the acquisition of the Clariant Color business
(2) Pro forma for the acquisition of Dyneema® and potential divestiture of
Distribution, including repayment of senior notes due 2023 and Term Loan
(1) (1) (2)
25
PRO FORMA MODELING
2022E Pro Forma Pro Forma
($M) w/ Dyneema w/Sale
Revenue 5,100$ 415$ 5,515$ (1,775)$ 3,740$
Adjusted EBITDA 635 130 765 (105) 660
EBITDA % 12% 31% 14% 6% 18%
Pro Forma EPS (Adjusted) 3.50$ 0.00$ 3.50$ (0.56)$ 2.94$
Pro Forma EPS (excl. amortization) 3.96$ 0.35$ 4.31$ (0.56)$ 3.75$
Leverage (12/31/2022E)
Net Debt / Adjusted EBITDA 1.7x 3.5x 2.9x
Avient Dyneema Distribution®
®
OUR SPECIALTY JOURNEY
ACQUISITION HISTORY
27
Commercial
Resources(1)
Operating Margins
259
360
$40
$122
9%
21%
Established Acquisitions
(> 7 years)
+ 39% + 210% + 1200 bps
(1) Commercial Resources include associate headcount in R&D / Technical, Marketing and Sales
CLARIANT COLOR ACQUISITION
28
$133
$205
2019PF 2021
28
Clariant Color EBITDA Growth
Purchase Price Multiple
10.8x
7.0x
6.1x
2019PF 2021 2021 w/ Full
Synergies
• Acquisition of Clariant Color business significantly expanded
presence in healthcare, packaging and consumer end markets
• Strength of portfolio – double-digit annual EBITDA growth
since acquisition
• $54 million of synergies realized in 2021
• Acquisition completed on July 1, 2020 for $1.45 billion.
https://www.avient.com/investor-center/news/polyone-acquires-certain-tpe-assets-kraton
Since our highly successful TPE acquisition of GLS in 2008, we've continually invested in, globalized and grown in TPE innovation and its broad value-added uses," said
https://www.avient.com/industries/transportation/aerospace/aerospace-rail-electronics
Bring tactile and visual appeal to your human-machine interface designs with GLS™ OnFlex™ TPEs
https://www.avient.com/news/polyone-acquires-certain-tpe-assets-kraton
Since our highly successful TPE acquisition of GLS in 2008, we've continually invested in, globalized and grown in TPE innovation and its broad value-added uses," said