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Milliken & Co. closes deal on Borchers

Staff Report //February 2, 2020//

Milliken & Co. closes deal on Borchers

Staff Report //February 2, 2020//

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Milliken & Co., a global diversified manufacturer based in Spartanburg, has formally acquired Borchers Group Limited, a global specialty chemicals company that makes high-performance coating additives and specialty catalyst solutions.

The acquisition from The Jordan Co. closed Jan. 28, according to a news release from Milliken.

“When great teams come together, big things happen,” Halsey Cook, Milliken & Co. president and CEO, said in the news release. “I’m excited to combine Borchers’ capabilities with Milliken’s long-term view and focus on innovation and sustainability.”

Milliken has been in business for more than 150 years.

“Borchers brings expertise, products and customer knowledge in the paint and coatings industry,” Russ Rudolph, senior vice president of Milliken’s Coating Additives Business, said in the news release. “Combined with Milliken’s commitment to investment in long-term sustainable innovation and specialty chemicals global reach, this acquisition will accelerate solutions for the markets and customers we serve.”

As Borchers integrates into Milliken, daily operations will continue without interruption, including relationships with existing suppliers and customers, the release said.  

Headquartered in Westlake, Ohio, Borchers carries a portfolio of additives for the coatings, inks and adhesives markets with a comprehensive range of cobalt-free driers, dispersants, rheology modifiers, wetting agents, polymerization catalysts and adhesion promoters. 

Jones Day represented Milliken in the transaction. Moelis & Company LLC acted as financial advisor, and Mayer Brown LLP acted as legal advisor to Borchers and TJC.