Eastman Chemical Company (NYSE:EMN) has agreed to acquire the business and assets of Matrix Films, LLC, marketer of PremiumShield performance films, including its extended line of automotive film patterns.
This acquisition will expand Eastman's paint protection film pattern development capabilities, pattern database, and installation training expertise. It will also complement Eastman's automotive dealer base in North America, Europe and the Middle East to drive growth in paint protection films and window films.
"We are excited to add the experience, capabilities, and dealer base of the PremiumShield team to Eastman's industry leading team to jointly create greater strength and differentiation," said Erin Bernhardt, general manager of the Performance Films business of Eastman's Advanced Materials segment. "The combination of PremiumShield's experienced team and extensive pattern database creates great growth synergies and will further establish Eastman as an industry leader in performance films."
The acquisition is expected to close in 2021. Terms of the agreement were not disclosed.