October 2018 – Valence Newsletter

  •  Consolidation has precipitated a sharp decline in number of $1bn+
    independent specialty chemical companies
  • Buoyed by M&A and resilient profitability, specialty chemical trading
    multiples continue to outperform and are now trading at almost double
    commodity/diversified peers
  • More broadly, average chemical company trading multiples remain at
    2017 levels with limited signs of weakening as profits and GDP growth in
    main markets remain robust
  • M&A transaction volumes have reached a near eight-year high

Download October 2018 Valence Newsletter