Trinseo (NYSE: TSE), a global materials solutions provider and manufacturer of plastics, latex binders and synthetic rubber, today issued a statement welcoming Bain Capital’s successful sale of its remaining stake in the company. The sale, which was announced on September 19, 2016, concluded Bain Capital’s formal investment in Trinseo, and completes a process that began when Bain helped lead Trinseo’s corporate formation and subsequent IPO in June of 2014.
Bain Capital Everest Manager Holding SCA, the selling shareholder, sold its remaining ownership of 10,669,567 shares in Trinseo earlier this week. The selling shareholder received all the net proceeds from this offering. No shares were sold by Trinseo. Morgan Stanley acted as the sole book-running manager.
Trinseo’s statement from President and CEO Chris Pappas follows:
“The transaction represents a major milestone and reflects the hard work of every single Trinseo employee. It is only through their work that the firm has achieved outstanding results and built the company into a successful enterprise. We have had an exciting journey over the past six years – from carve-out and spin-off, to private equity ownership, to IPO on the NYSE, and now full independence as a public company. This moment is the culmination of the plans Bain Capital and Trinseo set forth, and it is truly exciting to see it realized.
“We are grateful for the strong confidence our shareholders and the investment community have placed in the company. As we look to the future, senior leaders are working diligently on growth plans for the company, exploring a variety of ways to invest our resources for the benefit of Trinseo’s customers, employees and shareholders. We see a bright future for Trinseo, as we continue life as fully independent, public company.”
Trinseo (NYSE: TSE), a specialty material solutions provider, partners with companies to bring ideas to life in an imaginative, smart, and sustainability-focused manner by combining its premier expertise, forward-looking innovations and best-in-class materials to unlock value for companies and consumers.
From design to manufacturing, Trinseo taps into decades of experience in diverse material solutions to address customers’ unique challenges in a wide range of industries, including consumer goods, mobility, building and construction, and medical.
Trinseo’s approximately 3,400 employees bring endless creativity to reimagining the possibilities with clients all over the world from the company’s locations in North America, Europe, and Asia Pacific. Trinseo reported net sales of approximately $4.8 billion in 2021. Discover more by visiting www.trinseo.com and connecting with Trinseo on LinkedIn, Twitter, Facebook and WeChat.
This press release may contain “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. Forward-looking statements in this press release may include, without limitation, forecasts of growth, revenues, business activity, acquisitions, financings and other matters that involve known and unknown risks, uncertainties and other factors that may cause results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. As a result of the foregoing considerations, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.