Evonik completed the acquisition of PeroxyChem from One Equity Partners for $640m.

Evonik Industries, a specialty chemicals company, completed the acquisition of PeroxyChem, a supplier of oxidative solutions, from One Equity Partners, a private equity firm for $640m. The purchase price including synergies is about 7.6 times the annual adjusted EBITDA. The acquisition will have a positive impact on Evonik's adjusted earnings per share and free cash flow already in 2020. “Despite the uncertainty, we posted a strong performance in 2019 and reported a further increase in sales and earnings in challenging economic conditions. Combining the two businesses will enable our motivated staff to develop even better solutions for our customers,” Bruce Lerner, PeroxyChem CEO.