MINNEAPOLIS
--(BUSINESS WIRE)--Aug. 7, 2020--
Piper Sandler
&Co.
, a leading investment bank and institutional securities firm, served as financial advisor to
Momentive Performance Materials Inc.
(Momentive) in the sale of its consumer sealants business to
Henkel Corporation
. The deal, which remains subject to customary closing conditions including regulatory clearances, is expected to close in 2020.
Momentive’s consumer sealants business encompasses
GE
-branded consumer sealants sold under license from the General Electric Company and available through home-improvement centers, major retailers and hardware stores. Momentive will continue to manufacture consumer sealants through 2021 under a transition supply agreement. (Source:
Momentive Performance Materials Inc.
)
“In the midst of a pandemic, we are delighted to have helped Momentive, reach this agreement and achieve the goals of the company and its shareholders,” said
Telly Zachariades
, managing director, chemicals and materials, at Piper Sandler. “We are looking forward to aiding and further advancing Momentive’s strategic objectives.”
This deal marks the first deal completed by Piper Sandler’s new chemicals and materials group,
The Valence Group
, acquired by Piper Sandler Companies in
April 2020
.
ABOUT
PIPER SANDLER
Piper Sandler Companies
(NYSE: PIPR) is a leading investment bank and institutional securities firm driven to help clients Realize the Power of Partnership®.
The Valence Group
was acquired by Piper Sandler and is a brand name used by the chemicals & materials group of the Piper Sandler investment banking division. Securities brokerage and investment banking services are offered in the
U.S.
through
Piper Sandler & Co.
, member
SIPC
and NYSE; in
Europe
through
Piper Sandler Ltd.
, authorized and regulated by the
U.K. Financial Conduct Authority
; and in
Hong Kong
through
Piper Sandler Hong Kong Limited
, authorized and regulated by the
Securities and Futures Commission
. Private Equity products and fixed income advisory services are offered through separate investment advisory affiliates.
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,
Minneapolis, Minnesota
55402-7036
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Pamela Steensland
Tel: 612 303-8185
pamela.steensland@psc.com
Source: Piper Sandler &Co.
