Acquisition activity accelerates with acquisition of Schülke
In 2021, Ashland Global Holdings Inc. (Ashland) acquired Schülke & Mayr GmbH (Schülke) from global investment organization EQT, an international chemical and pharmaceutical company headquartered in Germany. The acquisition, valued at $312.0 million, strengthens Ashland’s personal care and household business segment by enhancing its access to the specialty ingredients solutions and expanding its biotechnology and microbiology technical competencies. Transaction costs related to the purchase were estimated to be $4.0 million during fiscal 2021.
Balance Sheet|New Activity|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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