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Rockwood Holdings Inc history
Rockwood Holdings Inc company history timeline
To conveniently skip 100+ years, LaPorte has fallen on hard times and certain parts of its business were acquired by KKR in 2000 for c. $1.2bn.
KKR decided that it was time to take Rockwood public and did so in August 2005 by selling 23.5m (inc.
Following this acquisition, as well as other smaller bolt-ons such as Groupe Novasep (subsequently sold in 2006 in an MBO) and the pigments business of Johnson Mathey, Rockwood would report $3bn in revenues and $570m in adj.
EBITDA. By 2012 the surviving businesses in the pursuit of higher returns on capital reported sales of $3.5bn and adj.
On a cold day as the world was getting over a NYE hangover management laid out something radical on a January 2013 investor day: shrinking the business by selling over 60% of revenue generating units and focusing solely on lithium and surface treatments.
The dividend payout ratio was in the low to mid 30%s with a view to maintain a 2.8-3.2% yield (higher than industry average). In addition, Rockwood announced a $400m buyback in January 2013 just as it was embarking on its strategic simplification.
In August 2013 Mr Ghasemi approached the CEO of Albemarle (US chemicals co) to acquire ALB, which didn’t go anywhere and Rockwood went on to focus on the acquisition of Talison.
A slide from a 2014 investor meeting gives you an overview of their MO. Having read their filings, conference transcripts and presentations I’ve stopped counting the occurrence of “shareholder value creation” at about 347.
As the Surface Treatment global business unit, Chemetall has been part of BASF's Coatings division since 2016.
Additionally, Rockwood entered into an option agreement with Tianqi through 2016 which stipulated that Tianqi can take a 20-30% stake in Rockwood Lithium (which controls the EU and Asian arm of Rockwood’s Li business) at 14x TTM EBITDA less net debt if they wished so.
Vleppo and Tokel make NFT rights legally enforceable in the real world leveraging Komodo technology Jul 12, 2022, 8:02 am
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Rockwood Holdings Inc competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| State of the Art, Inc. | 1969 | $3.9M | 100 | - |
| Coastline | - | $21.4M | 330 | 9 |
| PT Holdings Company Inc | 1997 | $27.0M | 50 | 61 |
| BOS - Business Office Systems | 1948 | $26.0M | 100 | 1 |
| The Balancing Company | 1968 | $6.5M | 20 | - |
| Clio Holdings | 2016 | $1.8M | 20 | 607 |
| Ali Group | 1963 | $450.0M | 1,511 | 1 |
| Lbj | - | $8.3M | 30 | - |
| Warren | 1985 | $1.1M | 9 | 15 |
| Corona | 1928 | $690,000 | 50 | 3 |
Rockwood Holdings Inc history FAQs
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Rockwood Holdings Inc may also be known as or be related to ROCKWOOD HOLDINGS INC. and Rockwood Holdings Inc.