WESTWOOD, MA – Chase Corporation, a manufacturer of industrial coatings and tapes, has entered into a definitive agreement to be acquired by an affiliate of investment funds managed by investment firm KKR for an all-cash transaction of around $1.3 billion.

Under the terms of the agreement, KKR will acquire all outstanding shares of Chase common stock for $127.50 per share in cash.

The transaction is expected to close in the fourth quarter of 2023, subject to the receipt of approval from the company’s shareholders and certain required regulatory approvals, as well as the satisfaction of other customary closing conditions.

"At Chase, we have always been deeply committed to continuously improving our operating performance while providing an outstanding customer experience," said President and CEO Adam P. Chase. "In KKR, Chase has found the right strategic partner with strong cultural alignment combined with the experience and resources to help support our mission and drive future growth."

"Over its nearly 80-year history, Chase has established itself as a leader in highly-engineered protective materials and built a portfolio of trusted brands, while delivering outstanding customer service," said Josh Weisenbeck, a KKR Partner who leads KKR’s Industrials investment team. "We look forward to supporting Chase on its next phase of growth through developing exciting new products, executing upon strategic acquisitions, and serving customers in growing end-markets, including critical applications in electronics, fiber optics and electric grid infrastructure."

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