Entegris Completes the Sale of the Pipeline and Industrial Materials (PIM) Business to SCF Partners
Retrieved on:
Monday, March 4, 2024
The PIM business was acquired by Entegris with the acquisition of CMC Materials in July 2022, and sells drag reducing agents (DRAs) and a range of valve maintenance products and services for pipeline operations.
Key Points:
- The PIM business was acquired by Entegris with the acquisition of CMC Materials in July 2022, and sells drag reducing agents (DRAs) and a range of valve maintenance products and services for pipeline operations.
- The proceeds of this transaction will be used for further debt paydown.
- As a result of the divestiture, the Company updated its financial guidance for the first quarter of 2024.
- The Company also expects adjusted EBITDA of approximately 27% to 28% of sales.