OMNOVA Solutions (OMN) Sells Muraspec Wallcovering Business in $7M Deal
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OMNOVA Solutions (NYSE: OMN) has sold its U.K.-based Muraspec commercial wallcovering business to affiliates of a2e Venture Catalysts Limited, and its principal Amin Amiri based in Manchester, United Kingdom. Muraspec produces and distributes wallcoverings and other interior surfacing products, primarily to commercial markets in the U.K., Europe and the Middle East.
This stock transaction involves the entire Muraspec business including all brands, a plant in Kent, U.K., a design and distribution center outside London, plus sales offices in Paris, Warsaw and Dubai. Muraspec has approximately $40 million in sales. OMNOVA operated Muraspec as a stand-alone business.
Under key terms of the transaction, OMNOVA will receive approximately US$7.0 million in cash and notes.
This stock transaction involves the entire Muraspec business including all brands, a plant in Kent, U.K., a design and distribution center outside London, plus sales offices in Paris, Warsaw and Dubai. Muraspec has approximately $40 million in sales. OMNOVA operated Muraspec as a stand-alone business.
Under key terms of the transaction, OMNOVA will receive approximately US$7.0 million in cash and notes.
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