DuPont de Nemours Inc. is in advanced talks to sell its Delrin resins unit to the private equity firm, The Jordan Company, for around $1.8 billion, according to people with knowledge of the matter.
(Bloomberg) — DuPont de Nemours Inc. is in advanced talks to sell its Delrin resins unit to the private equity firm, The Jordan Company, for around $1.8 billion, according to people with knowledge of the matter.
The New York-based private equity firm could announce a deal for the chemical assets as soon as this week, the people said, asking not to be identified as the information is private.
No final decision has been made, and talks could still fall apart.
If Jordan succeeds, it will have prevailed over firms Lone Star Funds and Platinum Equity, which had also been competing for the asset, Bloomberg News previously reported.
A representative for DuPont declined to comment while a spokesperson for Jordan didn’t respond to a request for comment.
The divestiture would underscore DuPont’s refocus on electronics, automotive and water and industrial technologies. Under Executive Chairman Ed Breen, the company merged with Dow Chemical Co. in 2017 and then reorganized into three independent businesses with the bulk of its mobility and materials arm sold to Celanese Corp in 2022.
The Jordan Company, a middle-market firm, has a long history of investing in chemical companies, having owned stakes in Arclin, Vantage and Polymer Solutions Group, according to its website. Delrin makes chemicals with lightweight properties that can be used as a substitute for metals in products ranging from mechanical gears to zip fasteners.
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