MPM Holdings, a restructured global producer of specialty silicones and other chemical additives, withdrew its plans for an initial public offering on Thursday after being acquired by MOM Holding, which is owned by a South Korean investor group consisting of SJL Partners, KCC, and Wonik Holdings, for $32.50 in cash per share.
The Waterford, NY-based company was founded in 2006 and booked $2.3 billion in sales for the 12 months ended December 31, 2017. It had planned to list on the NYSE under the symbol MPMH. J.P. Morgan, Goldman Sachs, Credit Suisse, Deutsche Bank, UBS Investment Bank, Wells Fargo Securities and BMO Capital Markets were set to be the joint bookrunners on the deal.
