Around the World
DuPont to Acquire Laird in $2B+ Deal
WILMINGTON, DE – DuPont has entered into a definitive agreement with private equity firm Advent International to acquire Laird Performance Materials for $2.3 billion, which will be paid from cash on hand. The transaction is expected to close in the third quarter, subject to regulatory approvals and other customary closing conditions.

Laird provides high-performance electromagnetic shielding and thermal management, as well as performance components and solutions that manage heat and protect devices from electromagnetic interference. It has a workforce of more than 4,300 employees with a global network of 11 manufacturing sites in North America, Europe, and Asia and 2020 revenues of $465 million.

The transaction brings together DuPont’s films, laminates and plating chemistry with Laird’s electromagnetic shielding and thermal management solutions.

“The acquisition of Laird Performance Materials is a significant step in advancing DuPont’s strategy to grow as a global innovation leader and premier multi-industrial company,” said Ed Breen, executive chairman and CEO, DuPont. “Laird is a strategic and complementary addition to the electronics and industrial business, and our applied material science expertise, together with Laird’s industry-leading application engineering capabilities, further strengthens DuPont as an essential partner for major electronics OEMs and manufacturers.”

DuPont expects to realize approximately $60 million in pretax run-rate cost synergies by the end of 2024, the majority in the first 18 months post-closing. The estimated one-time cost is approximately $40 million. (CD)