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CNH INDUSTRIAL COMPLETES DIVESTURE OF RAVEN'S ENGINEERED FILMS DIVISION
May 2, 2022
Source: CNH Industrial news release
CNH Industrial (NYSE: CNHI / MI: CNHI) announces that it has completed the sale of the Raven Engineered Films Division (EFD) to Industrial Opportunity Partners (IOP), an operations-focused private equity firm based in Evanston, Illinois, USA, for a purchase price of $350 million subject to customary closing adjustments.
The Raven EFD business, based in Sioux Falls, South Dakota, is a leading provider of highly-engineered polymer films and sheeting for agriculture, construction, geomembrane, and industrial applications. The business's products are designed for critical applications and promote sustainability by protecting the Earth's resources.
Goldman Sachs and Barclays acted as financial advisors to CNH Industrial and Wachtell, Lipton, Rosen & Katz acted as legal advisor to CNH Industrial.
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