Infineum cancels acquisition of Entegris’ PIM business

Infineum USA L.P. confirmed that it has cancelled the acquisition of the pipeline and industrial materials business from Entegris, Inc. on February 16. Infineum did not provide any information regarding the termination of the transaction, which was valued at approximately USD240 million. The deal, which was originally expected to close in the fourth quarter of 2022, had not yet received U.S. regulator’s clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

Infineum USA L.P., based in Linden, New Jersey, U.S.A., manufactures and markets petroleum additives. Its parent company is Infineum International Limited, a joint venture between the additive product lines of ExxonMobil and Shell, headquartered in Abingdon, UK.

On October 11, 2022 Infineum and Entegris, Inc. announced that they have entered into a definitive agreement for Infineum to acquire  Entegris’ Pipeline and Industrial Materials business (PIM), which was a legacy business that it acquired from CMC Materials. Entegris’ PIM business is part of the  company’s Specialty Chemicals and Engineered Materials (SCEM) division and includes the Flowchem,  Val-Tex, and Sealweld brands and a broad range of Drag Reducing Agents (DRAs) for pipeline operations. 

Entegris, based in Billerica, Massachusetts, U.S.A., is a leading supplier of advanced materials and process solutions for the semiconductor and other high-technology industries. On July 6, 2022 Entegris completed its acquisition of CMC Materials, Inc. for USD4,474.9 million. Following completion of the transaction, Entegris established a new operating model comprised of four divisions:

• Microcontamination Control (MC), will continue to include the Liquid Microcontamination Control, Gas Microcontamination Control and New Markets business units;
• Specialty Chemicals and Engineered Materials (SCEM), will include Entegris’ Advanced Deposition Materials, Specialty Chemicals, Specialty Materials and Gases and Surface Prep and Integration business units (all of which were part of the SCEM division). It also included CMC Materials’ International Test Solutions (ITS), as well as Performance Materials operations, Pipeline and Industrial Materials (PIM) and QED;
• Advanced Materials Handling (AMH), will continue to include Wafer Handling, Fluid Handling, Sensing and Control, Liquid Packaging and Life Sciences business units;
• And the new Advanced Planarization Solutions (APS) Division, which will include an end-to-end suite of CMP solutions, including CMC Materials’ CMP Slurries, CMP Pads and Electronic Chemicals businesses, as well as Entegris’ Post CMP Cleans, Pad Conditioners, CMP Slurries and Brushes business lines.