Mutares SE & Co. KGaA is set to acquire SABIC's Engineering Thermoplastics business for USD 450 million, marking the company's largest transaction and the establishment of a new Chemicals & Materials segment.

Information on the Target

Mutares SE & Co. KGaA has announced a groundbreaking agreement to acquire the Engineering Thermoplastics (ETP) business from SABIC for a total enterprise value of USD 450 million. This acquisition is historic for Mutares, being the largest transaction in the company's history based on revenue. The closing of the deal is anticipated in the second half of 2026, subject to regulatory approvals.

The ETP business boasts an impressive production capacity, including approximately 1,085 kilotons (kt) of resins and around 780 kt of compounding. It operates a robust international platform with about 2,900 employees across eight manufacturing sites in America and Europe. The product range includes well-known brands such as LEXAN™, CYCOLOY™, VALOX™, and CYCLOLAC™, as well as various thermoplastic resins like Polycarbonate (PC), Polybutylene Terephthalate (PBT), and Acrylonitrile-Butadiene-Styrene (ABS). This business generates approximately USD 2.5 billion in revenue, underlining its strong market presence.

Industry Overview in the Target's Specific Country

The ETP industry is marked by significant growth potential, driven by the increasing demand for advanced materials across various sectors, particularly in the automotive and constru