---
schema_version: "secwatch.filing_event.v1"
accession: "0001122976-22-000072"
form_type: "8-K"
ticker: "AVNT"
cik: "0001122976"
company_name: "AVIENT CORP"
filed_at: "2022-11-07T23:59:59+00:00"
generated_at: "2026-06-22T05:00:37.035283+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Avient completes sale of Distribution business to H.I.G. Capital affiliate for $950M cash

## Summary
- Sale closed Nov 1, 2022; proceeds $950M in cash, subject to working capital adjustment.
- After-tax proceeds used to redeem $600M of 5.25% Senior Notes due 2023 and repay $150M term loans.
- Expected pre-tax gain of ~$700M, classified in discontinued operations.
- Pro forma financials provided; Distribution business revenues eliminated from continuing ops for 2019-2021 periods.

## SEC filing metadata
- accession: 0001122976-22-000072
- form_type: 8-K
- ticker: AVNT
- cik: 0001122976
- company_name: AVIENT CORP
- filed_at: 2022-11-07T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1122976/000112297622000072/0001122976-22-000072-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1122976/000112297622000072/avnt-20221101.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001122976-22-000072
- JSON: https://secwatch.observer/filing/0001122976-22-000072.json
- Plain text: https://secwatch.observer/filing/0001122976-22-000072.txt

## Key facts
- M&A Transactions
  AVIENT CORP completed a disposition involving Hilo Group Buyer, LLC (n/k/a Formerra, LLC) for $950 million in cash (closed 2022-11-01).
  - Action: disposition
  - Counterparty: Hilo Group Buyer, LLC (n/k/a Formerra, LLC)
  - Consideration: $950 million in cash
  - Closing: 2022-11-01
  source text: company (the “Purchaser”). Pursuant to the terms of the Agreement, the Purchaser agreed to acquire the Company’s Distribution business (the “Distribution Business”) for $950 million in cash, subject to a customary working capital adjustment. On November 1, 2022, the Company completed the sale of the Distribution Business to the Purchaser pursuant to the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1122976/000112297622000072/0001122976-22-000072-index.htm
- M&A Transactions
  AVIENT CORP completed an acquisition involving DSM Protective Materials for $1.4 billion, net of cash acquired (closed 2022-09-01).
  - Action: acquisition
  - Counterparty: DSM Protective Materials
  - Consideration: $1.4 billion, net of cash acquired
  - Closing: 2022-09-01
  source text: (the “APM Acquisition”). The acquired business is referred to as Avient Protective Materials or APM. Total consideration paid by the Company to complete the APM Acquisition was $1.4 billion, net of cash acquired. In connection with the APM Acquisition, Avient i) amended its a senior secured term loan credit facility pursuant to which it issued a term loan with an
  evidence_url: https://www.sec.gov/Archives/edgar/data/1122976/000112297622000072/0001122976-22-000072-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.