Revolymer to buy US specialty polymer company Itaconix for US$7 mln

22-Jun-16

Revolymer Plc has unconditionally agreed to acquire, by merger, Itaconix Corp., a privately-owned business based in New Hampshire, US, for an initial consideration of US$7 million (£4.9 mln). The deal price comprises US$3 mln in cash and US$4 mln in new Ordinary Shares, plus further deferred performance related consideration of up to US$6 mln payable in new Ordinary Shares, subject to the satisfaction of certain performance criteria.
Itaconix is a high-growth specialty polymer company that develops and commercialises novel polymers based on its proprietary, commercially-proven and low production cost itaconic acid polymerization technology.