Avient sells Distribution segment to H.I.G. Capital for $950M cash

AVIENT CORP

Sale price $950M cash, valuing Distribution at ~10x LTM EBITDA; buyer H.I.G. Capital.
After-tax proceeds ~$750M will be used to pay down near-term maturing debt.
Pro forma net debt to adjusted EBITDA leverage expected ~2.8x by year-end.
Sale is part of Avient's specialty transformation; Distribution classified as discontinued operations.
DSM Protective Materials acquisition also underway; no financing contingency on this deal.

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