Element Solutions

Element Solutions Inc. (formerly Platform Specialty Products Corporation) is a specialty chemicals production corporation listed on the New York Stock Exchange.[4][5]

Element Solutions Inc.
Public
Traded asNYSE: ESI
Russell 1000 Component
ISINUS72766Q1058 
Founded2013
FounderMartin E. Franklin
Headquarters5200 Blue Lagoon Drive,
Miami, Florida[1]
,
United States
Key people
Benjamin Gliklich[2]
ProductsSpecialty Chemicals, technical services[1]
Revenue
  • $1.961 billion (2018)[3]
Number of employees
4,450[3] (2018)
Websiteelementsolutionsinc.com

History

The corporation was founded in 2013 by Martin E. Franklin, with financial backing from Bill Ackman.[6] The company manufactures and supplies specialty chemicals for consumer electronics, communication infrastructure, automobile, industrial surface finishing, consumer packaging and offshore oil production and drilling.[7][8]

Additionally, the corporation purchased several highly complementary specialty chemicals companies from 2013 through 2015: MacDermid Incorporated in October 2013, the electronic chemicals and photomasks businesses of OM Group Inc. in October 2015, and Alent plc in December 2015. After the final acquisition became effective, in 2016 Platform Specialty Products launched a new division in order to combine the operations of the acquired businesses.[9]

In July, 2018, United Phosphorus Limited announced acquisition of Arysta Life Sciences, the Crop business of Platform Specialty Chemicals for a total sum of $4.2 billion, with the latter exiting the crop business entirely.[10] In 2019, the company changed its name to Element Solutions Inc. from Platform Specialty Chemicals[11]. It is now listed as ESI on the New York Stock Exchange.[2][5]

References
  1. "Platform Specialty Products Corp". Bloomberg Business. Retrieved November 5, 2015.
  2. Hammond, Ed (28 January 2019). "Platform Shakes Up Management After Sale of Its Agriculture Unit". Bloomberg News. Retrieved 11 February 2019.
  3. "Element Solutions Inc, Form 10-K, Filing Date February 28, 2019" (PDF). ir.elementsolutionsinc.com. Retrieved March 7, 2019.
  4. "Element Solutions Inc". MarketWatch. Retrieved 11 February 2019.
  5. "Opening Bell, February 1, 2019". CNBC. 1 February 2019. Retrieved 11 February 2019.
  6. Raice, Shayndi; Walker, Ian (July 13, 2015). "Martin Franklin Expands Chemicals Empire With $2.1 Billion U.K. deal: Acquisition is latest in deal-making spree by founder of Jarden and Nomad groups". The Wall Street Journal. Retrieved October 31, 2015.
  7. "Element Solutions Inc". Bloomberg. Retrieved 7 March 2019.
  8. "Key Markets". Element Solutions Inc. Retrieved 7 March 2019.
  9. "Platform Specialty Products Corporation Announces Closing of the Acquisition of Alent plc". Archived from the original on 8 April 2016. Retrieved 2 June 2016.
  10. "UPL completes acquisition of Arysta LifeScience for $4.2 billion". The Economic Times. 2019-02-04. Retrieved 2019-06-03.
  11. "Platform Specialty Products launches as Element Solutions". Chemical & Engineering News. Retrieved 2019-06-03.
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