Private equity investment firm Bain Capital, which bought materials solutions provider and manufacturer of plastics, latex binders and synthetic rubber Trinseo in 2010, has sold all its remaining shares in the company. Bain Capital bought Trinseo (then known as Styron) from Dow Chemical in 2010. With the sale of more than 10 million shares, it has completely exited the company. With this, Trinseo said, it has reached a milestone as a fully public company.
Trinseo says it welcomes Bain Capital’s 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.
Trinseo’s President/CEO Chris Pappas said, “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 realised.”
He also painted a bright future for Trinseo, “as we continue life as fully independent, public company.”
Trinseo had approximately US$4 billion in revenue in 2015, with 18 manufacturing sites around the world, and more than 2,200 employees.