PolyOne Corporation (NYSE:POL) Files An 8-K Completion of Acquisition or Disposition of Assets

PolyOne Corporation (NYSE:POL) Files An 8-K Completion of Acquisition or Disposition of Assets
Item 2.01. Completion of Acquisition or Disposition of Assets.

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As previously announced, on June 29, 2017, PolyOne Corporation (the “Company”), PolyOne Designed Structures and Solutions LLC and NLIN Plastics, LLC, an affiliate of Arsenal Capital Partners (the “Purchaser”), entered into an equity purchase agreement (the “Agreement”), to which the Purchaser agreed to acquire the Company’s Designed Structures and Solutions business (the “DSS Business”) for $115.0 million, subject to a working capital adjustment. On July 19, 2017, the Company completed the sale of the DSS Business to the Purchaser to the terms of the Agreement.

The description of the Agreement contained herein does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, a copy of which is filed as Exhibit 2.1 hereto and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(b)

The unaudited pro forma condensed combined financial information of the Company giving effect to the divestment of the DSS Business, together with the related notes thereto, is attached hereto as Exhibit 99.1.

(d)Exhibits.

Exhibit

Description

2.1*

Equity Purchase Agreement, dated June 29, 2017, by and among PolyOne Corporation, PolyOne Designed Structures and Solutions LLC and NLIN Plastics, LLC (incorporated herein by reference to Exhibit 2.1 to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2017 (Commission File No. 001-16091), filed on July 25, 2017)

99.1

Unaudited pro forma condensed combined statements of income of PolyOne Corporation

* Certain exhibits and schedules have been omitted and the Company agrees to furnish supplementally to the Securities and Exchange Commission a copy of any omitted exhibits and schedules upon request.


POLYONE CORP Exhibit
EX-99.1 2 pol-201707258xkexhibit991.htm EXHIBIT 99.1 Exhibit Exhibit 99.1UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENTS OF INCOMEOn June 29,…
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About PolyOne Corporation (NYSE:POL)

PolyOne Corporation is a provider of polymer materials, services and solutions. The Company offers specialty polymer formulations, color and additive systems, plastic sheet and packaging solutions, and polymer distribution. It operates in five segments: Color, Additives and Inks, which provide color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets; Specialty Engineered Materials, which provide specialty polymer formulations, services and solutions for designers, assemblers and processors of thermoplastic materials across a range of markets and end use applications; Designed Structures and Solutions, which provide solutions for engineered polymer structures, rigid barrier packaging and specialty cast acrylics; Performance Products and Solutions, which consist of the Geon Performance Materials and Producer Services business units, and PolyOne Distribution, which distributes over 3,500 grades of engineering and commodity grade resins.

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