PolyOne Corp. has committed $120 million to acquire Fiber-Line, a global customized engineered fibers and composite materials company with manufacturing locations in North America, Europe and Asia.
Acquiring Fiber-Line represents a significant investment to PolyOne’s specialty engineered materials segment. The deal is expected to add nearly $100 million in revenue in 2019 and be immediately accretive to EPS.
“Fiber-Line is an innovative and unique addition to our portfolio of fiber and composite solutions with tremendous upside for growth,” PolyOne CEO Robert M. Patterson said in a statement. “They provide an immediate leadership position in serving the build-out of fiber optic cable and future 5G networks.”
Fiber-Line provides material science and polymer formulation expertise to engineer specified performance characteristics for fiber. The company serves the fiber optic cable, oil & gas, industrial and consumer industries.
Fiber-Line CEO Dale Outhous said, “Joining the PolyOne team represents another important and exciting milestone for Fiber-Line employees and our valued customers. Through PolyOne’s future investments in Fiber-Line’s technical capabilities, operations and commercial reach, we will be able to serve our customers better than ever before.”
Patterson added that PolyOne expects long-term growth to be driven by significant technology synergies between fiber and composites, utilizing specialty colorants and coatings.