WESTWOOD, MA – Chase Corp. finalized the acquisition of ABchimie, a developer of coatings for electronics, in an all-cash deal. Chase expects the acquisition to be immediately accretive but not in a significant way.

On Sept. 1, Chase acquired all the capital stock of ABchimie for €18 million (US$21.4 million at the time of the transaction) net of cash and marketable securities acquired, subject to final working capital adjustment, excluding acquisition-related costs of $274,000, with a potential earnout based on performance potentially worth an additional €7 million (US$8.3 million at the time of the transaction).

The transaction was funded 100% with cash on hand. The financial results of the business will be included in the company's fiscal 2021 financial statements within the Adhesives, Sealants and Additives operating segment.

ABchimie provides materials for cleaning and protection of electronic assemblies.

“The ABchimie acquisition demonstrated our commitment to inorganic growth initiatives,” said Adam Chase, president and CEO, Chase. “This acquisition broadens our electronics coatings product portfolio within the Adhesives, Sealants, and Additives reporting segment with high-performance, environmentally friendly technologies that are complementary to our product offerings. ABchimie’s UV LED coating technology provides an exciting low-energy curing solution for this emerging industry trend.

“Our disciplined focus on margins and cash flow drove solid results for both the quarter and fiscal year, despite revenue headwinds resulting from the Covid-19 pandemic. Thanks to the efforts of our dedicated employees, we were safely able to continue meeting the needs of our customers during this challenging time.