Westlake Chemical acquires Dimex from Grey Mountain Partners

Westlake Chemical Corporation (NYSE:WLK) announced that one of its subsidiaries has acquired the parent company of Dimex LLC, from Grey Mountain Partners, a private equity firm. Dimex produces a variety of consumer products made from post-industrial-recycled (PIR) polyvinyl chloride (PVC), polyethylene (PE) and thermoplastic elastomer (TPE) materials, and has annualized sales of ~$100M. The proposed transaction is expected to close during the second half of 2021. “Westlake’s pending acquisition of Dimex underscores the company’s longstanding commitment to stewardship of the environment and recycling, and to taking actions that contribute to a sustainable, circular economy,” said Robert Buesinger, Executive Vice President, Vinyl Products of Westlake Chemical Corporation. Financial terms were not disclosed.