An Investor Group consisting of SJL Partners LLC, KCC Corp. and Wonik QnC Corp. has successfully acquired MPM Holdings Inc. (Momentive), a global silicones and advanced materials company.

“This is a great outcome for all of our stakeholders, delivering maximum value to our stockholders and positioning Momentive for long-term growth and future job creation that will benefit our talented employees across the globe as well as our customers and suppliers,” says Momentive CEO and president Jack Boss. “The acquisition and the potential for greater combination with KCC’s silicones division will further enhance Momentive’s global leadership position by expanding our portfolio of products, broadening our geographic reach and strengthening our financial position.”

“On behalf of KCC, Wonik and SJL, we are pleased to announce the successful completion of the transaction and begin this partnership with Jack and the Momentive team as we focus on the next stage of growth,” adds SJL chairperson and managing partner Steve Lim.

Closing terms

On May 15, 2019, Momentive became a wholly owned subsidiary of the investor group and ceased to be traded on the OTCQB. In connection with the closing, the transaction was financed through a combination of cash and new debt.