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Goodyear Announces Sale of Chemical Business
- An affiliate of Gemspring Capital Management agreed on May 22, 2025, to acquire Goodyear Tire's polymer chemicals business, Goodyear Chemical, including plants in Texas and an R&D facility in Akron, Ohio.
- Goodyear decided to sell this business as part of its Goodyear Forward transformation plan to optimize its portfolio and enhance shareholder value.
- The chemical division of this company, based in Akron, manufactures synthetic rubber and supports a wide range of industries including food, healthcare, adhesives, and sports equipment, while maintaining operational sites in Niagara Falls and Bayport.
- Gemspring, a Westport-based private equity firm managing $3.8 billion, will pay $650 million at closing and expects the deal to close by late 2025, pending regulatory and customary conditions.
- The transaction aims to position Goodyear Chemical for accelerated product development, global customer expansion, and sustainable growth, with Gemspring’s advisor Tesham Gor expected to lead as CEO.
47 Articles
47 Articles
Goodyear set to deliver on divestment plan after its strikes deal to sell synthetic rubber business
The largest U.S. manufacturer of tires for car companies will sell the majority of its Goodyear Chemical arm to private equity firm Gemspring Capital in a deal expected to be finalized late this year. The $650 million in gross proceeds comes on top of the $1.6 billion it achieved from the sale of two other businesses earlier this year, reaching a key target from its Goodyear Forward restructuring plan. Goodyear is close to closing the books on i…
Goodyear to sell chemical business for $650M
AKRON, Ohio — Goodyear will sell its chemical business to private equity firm Gemspring Capital for approximately $650 million, continuing a sweeping transformation effort aimed at refocusing the Akron-based company and boosting shareholder value.
The Conway Daily Sun
Goodyear Announces Sale of Chemical Business
AKRON, Ohio, May 22, 2025 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NASDAQ: GT) ("Goodyear" or the "Company") today announced that it has signed a definitive agreement to sell the majority of its Goodyear Chemical business to Gemspring Capital…
Goodyear Announces Sale of Chemical Business - PressReach
AKRON, Ohio, May 22, 2025 /PRNewswire/ — The Goodyear Tire & Rubber Company (NASDAQ: GT) (“Goodyear” or the “Company”) today announced that it has signed a definitive agreement to sell the majority of its Goodyear Chemical business to Gemspring Capital Management, LLC. The transaction follows a previously announced strategic review of Goodyear’s Chemical business in connection with the Goodyear Forward transformation plan. Goodyear Chemical is …
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