By Greg Roumeliotis
Sept 1 (Reuters) - Arclin Inc, a maker of resins and other
construction-related materials, has hired investment bank Credit
Suisse Group AG CSGN.VX to explore a sale that could value it
at around $800 million, according to people familiar with the
matter.
An auction for Arclin, which has annual earnings before
interest, tax, depreciation and amortization of around $100
million, is already under way, the people said on Tuesday,
asking not to be identified because the sale process is
confidential.
Spokespeople for Arclin and Credit Suisse did not
immediately respond to requests for comment.
Based in Roswell, Georgia, Arclin provides surfacing
materials for decorative panels, building products, and
industrial specialty applications for North American and export
markets. It has 11 production facilities in the United States
and Canada.
Arclin has been majority owned by its former creditors,
investment firms Black Diamond Capital Management LLC and Silver
Point Capital LP, since it emerged from bankruptcy protection in
2010.
In 2012, Arclin acquired the North American operations of
Coveright Surfaces, a producer of surface materials for the
furniture, flooring and building industries.