Plotted by close date where disclosed, otherwise announcement. Select any marker to jump to the deal entry.
Three patterns run through AdvanSix's acquisitions — what it looks for, how it pays, and how it folds in what it buys.
2 acquisitions — each with the deal value, financing structure, target revenue, and executive commentary where disclosed.
AdvanSix acquired certain assets of Commonwealth Industrial Services, Inc. (CIS), an ammonium sulfate packaging, warehousing and logistics services business based in Hopewell, Virginia. AdvanSix disclosed the deal on January 25, 2021 alongside an update on its sulfur-nutrition strategy, and its Form 10-K reports the assets were acquired in January 2021 for approximately $9.5 million. The added packaging and warehousing capabilities support direct supply of packaged ammonium sulfate to customers, primarily across North and South America, from AdvanSix's Hopewell-area operations.
AdvanSix acquired U.S. Amines Limited, a North American producer of alkyl and specialty (allyl) amines used in agrochemicals, pharmaceuticals and other high-value end markets. AdvanSix announced the agreement on February 18, 2022 alongside its fourth-quarter and full-year 2021 results, describing an all-cash transaction with an estimated net purchase price of approximately $100 million; the acquisition closed in February 2022, and AdvanSix's Form 10-K reports a purchase price of approximately $97.5 million, net of cash acquired. U.S. Amines employed roughly 50 people at manufacturing facilities in Bucks, Alabama and Portsmouth, Virginia, with estimated 2022 revenue of about $70 million. It was AdvanSix's second acquisition and its largest to date. approximately $97.5 million, net of cash acquired (announced as an all-cash transaction with an estimated net purchase price of approximately $100 million).
U.S. Amines is a complementary and cohesive fit with our existing portfolio and supports further penetration in high-value end markets and applications. We will leverage our core strengths across its unique manufacturing capabilities to enable sales synergies and unlock incremental value. We see robust opportunities for incremental growth through increased utilization of assets, new market opportunities and high-return organic investments.Erin Kane — President and CEO, AdvanSix
AdvanSix recorded finite-lived intangible assets of approximately $34 million (customer relationships of approximately $33 million and trademarks of approximately $1 million), amortized over estimated useful lives of 20 and 5 years respectively, with the residual purchase price allocated to goodwill.