# Hexion sells phenolic resins business to Black Diamond and Investindustrial for $425M

Hexion is selling its phenolic resin, hexamine, and European forest-product resin businesses to private equity firms Black Diamond and Investindustrial for $425 million. The businesses include the Bakelite brand and generated $530 million in sales over the past 12 months.

- Type: Acquisition
- Announced: 2020-10-02
- Where: United States
- Value: $425.0M
- Status: announced
- Products: phenolic resins, hexamine, forest-product resins, Bakelite
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Investindustrial](https://endata.com/companies/2585.md) (acquirer)
- [Hexion](https://endata.com/companies/22326.md) (target)
- [Black Diamond](https://endata.com/companies/48788.md) (acquirer)

## Sources

- [cen.acs.org](https://cen.acs.org/business/mergers-&-acquisitions/Hexion-sell-phenolic-resins-unit/98/i38), 2020-10-02: "The businesses, which include the fabled Bakelite brand, generated $530 million in sales over the past 12 months."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.