02.09.23
Alkegen announced that it has entered into an exclusive agreement with Regent, L.P. to sell its Thermal Acoustical Solutions (TAS) business unit, which manufactures high performance acoustical and thermal management insulation components for the automotive and transportation industries. The divestiture aligns with Alkegen’s long-term strategy to advance its growing portfolio of specialty materials dedicated to sustainability and human health.
“This divestiture allows us to focus all of Alkegen’s resources on our primary goal: advancing our unique platform of specialty materials that meaningfully help the world breathe easier, live greener and go further than ever before,” says John Dandolph, Alkegen’s president and CEO. “We’re excited for the future and the new opportunities this creates for both Alkegen and the TAS business as it moves forward with Regent.”
“We are pleased to have found a strong partner in Regent for the TAS business,” adds Paul Vallis, Alkegen’s president of Filtration & Catalysis and general manager of TAS, “and we look forward to seeing TAS employees and customers thrive under new ownership.” As part of the agreement, Vallis will remain with Alkegen as president of its Filtration & Catalysis business group.
Alkegen originally acquired TAS as part of its acquisition of Lydall, Inc. in October 2021. The sale includes Thermal Acoustical Solutions locations in Hamptonville, NC; Yadkinville, NC; St. Nazaire, France; Meinerzhagen, Germany; and Taicang, China.
The transaction is expected to close in the first quarter of 2023, subject to appropriate labor consultations, regulatory filings, and other customary closing conditions.
“This divestiture allows us to focus all of Alkegen’s resources on our primary goal: advancing our unique platform of specialty materials that meaningfully help the world breathe easier, live greener and go further than ever before,” says John Dandolph, Alkegen’s president and CEO. “We’re excited for the future and the new opportunities this creates for both Alkegen and the TAS business as it moves forward with Regent.”
“We are pleased to have found a strong partner in Regent for the TAS business,” adds Paul Vallis, Alkegen’s president of Filtration & Catalysis and general manager of TAS, “and we look forward to seeing TAS employees and customers thrive under new ownership.” As part of the agreement, Vallis will remain with Alkegen as president of its Filtration & Catalysis business group.
Alkegen originally acquired TAS as part of its acquisition of Lydall, Inc. in October 2021. The sale includes Thermal Acoustical Solutions locations in Hamptonville, NC; Yadkinville, NC; St. Nazaire, France; Meinerzhagen, Germany; and Taicang, China.
The transaction is expected to close in the first quarter of 2023, subject to appropriate labor consultations, regulatory filings, and other customary closing conditions.