Lone Star Funds announced the signing by an affiliate of Lone Star Fund XI, LP of a definitive agreement to sell AOC, a leading global specialty chemicals company, to Nippon Paint (NPCPF) Holdings. Under Lone Star’s stewardship, AOC invested in its core business systems, including commercial excellence, innovation, procurement and manufacturing efficiency, to drive earnings growth. AOC also invested in the expansion of its executive leadership team, broadening the capabilities of the team to efficiently manage the global enterprise. AOC is poised to capitalize on its next leg of growth, supported by a well-capitalized asset base and a world-class management team. The transaction is subject to certain closing adjustments and conditions, including regulatory clearances, and is expected to close in the first half of 2025.
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