Westlake Chemical Corporation in €490 Million Acquisition of Vinnolit

Cleary Gottlieb is representing Westlake Chemical Corporation in the €490 million acquisition of Vinnolit Holdings GmbH and its subsidiaries from private equity firm Advent International. The transaction, which has been announced on May 28, is expected to close in the 3rd quarter of 2014, subject to standard closing conditions, including regulatory review.

Westlake is an international manufacturer and supplier of petrochemicals, polymers and building products with headquarters in Houston, Texas. It operates from 16 locations in North America as well as 1 location in China and has approximately 2,200 employees worldwide.

Vinnolit is a leading manufacturer of specialty PVC with six production facilities located in Gendorf, Burghausen, Cologne, Knapsack and Schkopau in Germany and Hillhouse in the United Kingdom. Its headquarters are located in Ismaning, Germany. The company generated €917 million revenue in 2013 and has approximately 1,400 employees (thereof 1,350 in Germany). In the year 2000, Vinnolit was acquired by funds advised by Advent.