COIM SPA, a multinational company developing and manufacturing specialty chemicals since 1962, has reached an agreement in principle with Manali Petrochemicals Ltd. for the acquisition of Notedome, a leading UK-based polyurethane systems company specializing in the elastomer sector.
COIM and MPL will finalize and execute a binding Share Purchase Agreement (SPA), under which COIM will acquire 100% of the share capital of Notedome Ltd from MPL's subsidiary, AMCHEM (Singapore).
The parties have agreed to a valuation of at least 8.5 times Notedome Ltd's adjusted EBITDA, as jointly determined.
The transaction will be completed on a cash-free and debt-free basis, subject to customary closing conditions and shareholder approval by the seller.
With this strategic acquisition, COIM strengthens its international presence in the polyurethane systems sector and further expands its product and service capabilities in key European markets.
Further updates will be provided upon signing of the definitive agreement.
