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Nexeo Solutions to focus on developing its business rather than on mergers

June 24/2011

(ICIS) -- Newly independent US-based chemical distributor Nexeo Solutions will first focus on developing its business model and proposition rather than on mergers and acquisitions (M&A), its chief executive said on Thursday.

We are very excited to be a stand-alone company focused exclusively on distribution and will spend 100% of our time, talent and resources on getting our value proposition right using service as a differentiator, said CEO David Bradley. We will first focus on developing this differentiated model before undertaking major M&A, he added.

Nexeo Solutions launched on 1 April after the former Ashland Distribution business was acquired by global private equity firm TPG Capital for USD 979m (EUR 685m). While M&A will initially be on the back burner in terms of focus, Bradley did not rule out deals altogether.

Nexeo had 2010 sales of USD 3.4bn, and it operates in three markets chemicals, plastics and composites. A key element of its business model will be differentiating its service offering, Bradley said.

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