https://www.avient.com/news/polyone-launches-specialty-automotive-tpes-and-design-services-europe
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PolyOne Launches Specialty Automotive TPEs and Design Services in Europe
This includes the launch of OnFlex™ LO thermoplastic elastomers (TPEs), featuring reduced levels of volatile organic compounds (VOCs) for vehicle interiors, and the availability of its IQ Design Labs service in Europe.
PolyOne also introduced OnFlex LO specialty TPEs, which help automotive OEMs improve the driver experience by reducing the number of VOCs in vehicle interiors by up to 50 percent.
https://www.avient.com/sites/default/files/2021-05/avnt-tpe-beginner-guide-fin.pdf
TPE Quick Facts
• How are TPEs made?
Diving Deeper into
TPEs
• Are TPEs eco-friendly?
TPEs:
The Basics
What are TPEs?
https://www.avient.com/sites/default/files/2022-11/AVNT Q3 2022 Earnings Presentation - Website Final.pdf
Additionally, Adjusted EPS excludes the impact of special items and amortization expense
associated with intangible assets.2
T RAN S FO R MAT IO NAL
OVE RV IE W
Avient Protective
Materials
Dyneema
®
RECENT TRANSACTIONS
Acquired Divested
$1.45 B $0.95 B
4
Distribution
UPDATED CAPITAL STRUCTURE
& LIQUIDITY
• Proceeds from completed
sale of Distribution used to
pay near-term maturing debt
to strengthen balance sheet
• Fixed/floating debt ratio of
~55/45
• Proven track record of
deleveraging following major
acquisitions through strong
free cash flow generation
• 2022 pro forma net
debt/adjusted EBITDA
expected to be 3.1x
$725 $725
$575 $500
$600
$525
$650
$650
$600
Capital Structure
Cash
$544
Undrawn
Revolver
$250
Liquidity
$3.15B
$2.40B
2030 Notes
2029 Term Loan
2026 Term Loan
2025 Notes
2023 Notes
After Dyneema
Acquisition
After Distribution
Divestiture
$794M
(1) $250M reflects estimated undrawn revolver following the divestiture of Distribution
5
PREVIOUS TRANSACTIONS
Performance
Solutions
Products &
$0.8 B
COLOR
$1.4 B
Acquired (2020)Divested (2019)
6
• Acquisition of Clariant Color business significantly expanded
presence in healthcare, packaging and consumer end markets
• Strength of portfolio – double-digit annual EBITDA growth
since acquisition
• $75 million of realized synergies anticipated in 2022
• Acquisition completed on July 1, 2020 for $1.45 billion.
Purchase price multiple rapidly declining on strength of
business and synergy capture
7
$133
$201
2019PF 2022E
7
Clariant Color EBITDA Growth
Purchase Price Multiple
10.8x
7.0x
6.4x
2019PF 2021 2022E w/ Full
Synergies
11.9%
16.3%
2019PF 2022E
EBITDA Margins
CLARIANT COLOR:
TRANSFORMATIONAL ACQUISITION
(1) Financial information is pro forma to include a full year of Clariant Color business
SUNBELT PVC Resins DSS
20 Acquisitions
$4.8B Investment
$2.7B of Annual
Revenue
5 Divestments
$2.3B Proceeds
TPE
PP&S
HISTORIC SPECIALIZATION THROUGH M&A
8
Distribution
DSM Protective
Materials
BOLT-ON ACQUISITION HISTORY
9
Commercial
Resources
Operating Income
Operating Margins
259
363
$40
$139
Established Acquisitions
(> 7 years)
+ 40% + 248% + 1300 bps
I N V E S T T O G R O W
SPECIALTY TRANSFORMATION
T O D A Y
46%
67%
86%
100%
0%
60%
80%
100%
2005 2010 2019 2021 2022 PF
%
o
f A
d
ju
st
ed
E
B
IT
D
A
• Commodity JVs
• Distribution
• Performance Products & Solutions
• Specialty Businesses
(1) Adjusted EBITDA is EBITDA excluding corporate costs and special items
(2) Pro forma for the acquisition of Dyneema® and divestiture of Distribution
(1
)
(2)
10
Building &
43%
14%
Telecom.
2%
2006 2022 Pro Forma
21%
Building &
Telecom.
Sales EBITDA
Specialty Engineered Materials
Color Additives and Inks
$585M$3,635M
23
C O L O R , A D D I T I V E S & I N K S
2022 REVENUE | $2 .3 B ILL ION
US & Canada
Latin America
END MARKET REGION
24
33%
Building &
1% Energy
Figures represent 2022 full year estimates
S P E C I A LT Y E N G I N E E R E D M AT E R I A L S
2022 PRO FORMA REVENUE | $1 .3 B ILL ION
END MARKET
US & Canada
50%
REGION
25 Figures represent 2022 full year estimates
19%
8%Industrial
16%
Building &
31%
28%
13%
Building &
3%
2% Defense
(20% of sales)
2022 PROFORMA AVIENT REGIONAL SALES
BY END MARKET
29%
13%
17%
Building &
(35% of sales)
14%
Building &
12%
US &
Canada
(40% of sales)
49%
Building &
LATAM
(5% of sales)
3%Telecommunications
Figures represent 2022 full year estimates
Reconciliation of Non-GAAP Financial Measures
(Unaudited)
(Dollars in millions, except for per share data)
Senior management uses comparisons of adjusted net income from continuing operations attributable to Avient shareholders
and diluted adjusted earnings per share (EPS) from continuing operations attributable to Avient shareholders, excluding special
items, to assess performance and facilitate comparability of results.
https://www.avient.com/news/avient-launches-medical-tpe-grades-formulated-without-animal-derivatives
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Avient Launches Medical TPE Grades Formulated Without Animal Derivatives
CLEVELAND – July 31, 2020 – Avient Corporation, a leading provider of specialized and sustainable material solutions, today announced the addition of eight new grades to its healthcare portfolio of Versaflex™ thermoplastic elastomers (TPEs).
https://www.avient.com/sites/default/files/2024-12/Terms and Conditions of Sale for Czech Republic.pdf
Buyer acknowledges that information in Seller’s
marketing materials, technical data sheets and other descriptive
publications distributed or published on its websites may vary from
time to time without notice.
Buyer acknowledges that Seller has furnished to Buyer
Safety Data Sheets, which include warnings together with safety and
health information concerning the Product and/or the containers for
such Product.
Data Protection.
https://www.avient.com/products/thermoplastic-elastomers/versaflex-low-adhesive-build-tpe-protective-film-tack-layer
Safety Data Sheets
Technical Data Sheets
Browse our library of product data sheets containing technical descriptions and details.
https://www.avient.com/sites/default/files/2022-04/Sustainable Material Answers_ Recycled PET 2022.pdf
TPEs: The Basics
PET Water Bottles can be
recycled in a closed loop
The goal of a circular economy is to minimize waste and
make the most of available resources to create a world
that is restorative and regenerative by design.
Sheet & Film—Sheets and films made
of PET are another major use case.
PET
sheets can be used to make a variety of
plastic products and film is often used
for tape backing, plastic wrap, medical
packaging, and protective coating on
windows.
https://www.avient.com/sites/default/files/2024-03/Terms and Conditions of Sale for South Africa.pdf
Buyer acknowledges that information in Seller’s
marketing materials, technical data sheets and other descriptive
publications distributed or published on its websites may vary from
time to time without notice.
Buyer acknowledges that Seller has furnished to Buyer
Safety Data Sheets, which include warnings together with safety and
health information concerning the Product and/or the containers for
such Product.
Data Protection.
https://www.avient.com/sites/default/files/2022-01/Versaflex CE TPEs for 5G Application Bulletin.pdf
VERSAFLEX™ CE TPEs FOR 5G TRANSPARENCY
Rapidly expanding 5G networks are increasing
performance requirements across the consumer
electronics industry.
These 5G transparent
TPEs combine the excellent physical properties,
aesthetics and UV resistance qualities of traditional
TPEs with lower dielectric constant (Dk) and
dissipation factor (Df) performance, resulting in
an advanced material solution with less signal
degradation for next-generation devices.
APPLICATION BULLETIN
GRADE Dk at 40 GHz Df at 40 GHz
Versaflex CE 3140-65N 2.49 0.024
Versaflex CE 3140-90N 2.54 0.021
Standard TPE (70A) 2.67 0.055
Standard TPE (90A) 2.83 0.038
5G TRANSPARENCY PERFORMANCE
*Market benchmark is 2.5 Dk at 37 GHz for compatible phone cases
1.844.4AVIENT
www.avient.com
Copyright © 2022, Avient Corporation.
https://www.avient.com/sites/default/files/2024-03/Terms and Conditions of Sale for Switzerland.pdf
Buyer acknowledges that information in Seller’s
marketing materials, technical data sheets and other descriptive
publications distributed or published on its websites may vary from
time to time without notice.
Buyer acknowledges that Seller has furnished to Buyer
safety data sheets, which include warnings together with safety and
health information concerning the Product and/or the containers for
such Product.
Confidentiality and Data Protection.