April 26, 2017 3:43 PM ET

Chemicals

Company Overview of Platform Specialty Products Corporation

Company Overview

Platform Specialty Products Corporation produces and sells specialty chemical products in the Americas, the Asia-Pacific, and Europe. It operates through two segments, Performance Solutions and Agricultural Solutions. The Performance Solutions segment offers plating products that are used to plate holes; electroless nickel products, which are applied to various metal and plastic surfaces; electronic assembly materials for use in the electronic market and residential boiler systems; final finishes that are used on printed circuit boards; circuit formation products for surface preparation; oxides, which are used in the fabrication of multilayer circuit boards; semiconductor materials and packa...

1450 Centrepark Boulevard

Suite 210

West Palm Beach, FL 33401

United States

Founded in 1922

7,750 Employees

Phone:

561-207-9600

Key Executives for Platform Specialty Products Corporation

Chief Executive Officer and Director
Age: 60
Total Annual Compensation: $989.7K
Chief Financial Officer
Age: 50
Total Annual Compensation: $175.6K
Executive Vice President of Operations and Strategy
Age: 31
Total Annual Compensation: $450.0K
President of Performance Solutions
Age: 54
Total Annual Compensation: $411.0K
Executive Vice President, General Counsel and Secretary
Age: 51
Total Annual Compensation: $293.6K
Compensation as of Fiscal Year 2016.

Platform Specialty Products Corporation Key Developments

Platform Specialty Products Corporation Completes Repricing of $1.93 Billion of Term Loans

Platform Specialty Products Corporation announced that it successfully completed the repricing of its existing USD B-4 and EUR C-3 term loan tranches, totaling $1.93 billion. These tranches were created in connection with Platform's term loan repricing, extension and amendment which closed on October 14, 2016. Platform has completed three term loan repricings since October 2016, with this transaction representing the second interest cost reduction on these specific borrowings under its credit agreement. The expected incremental annual interest savings is approximately $22 million as a result of this transaction alone and $48 million in aggregate from all three repricings. Platform refinanced its USD B-4 and EUR C-3 term loan tranches by incurring a new $1,231 million USD B-6 term loan tranche and a new €650 million EUR C-5 term loan tranche. Similar to the October and December 2016 repricings, Platform used the proceeds of the new term loan tranches to concurrently prepay in full the existing USD B-4 and EUR C-3 term loan tranches. This repricing resulted in a 100 basis point reduction in the interest rate across both the USD and Euro tranches. In addition, the EURIBOR floor on the EUR C-5 term loan tranche was reduced from 1.00% to 0.75%. Finally, this transaction also shifted $237 million from USD term loans to EUR term loans further matching Platform's debt profile with its earnings footprint.

Platform Specialty Products Corporation Announces Executive Changes

Platform Specialty Products Corporation announced that John P. Connolly, currently Platform’s Vice President, Corporate Controller and Chief Accounting Officer, has been appointed as its Chief Financial Officer, effective immediately. Mr. Connolly’s appointment follows the resignation of Sanjiv Khattri as Chief Financial Officer, effective March 16, 2017. Mr. Connolly joined Platform in September 2016 as Controller and Chief Accounting Officer from Xylem Inc., where he established the corporate controllership and accounting functions following its spin-off from ITT Corporation.

Platform Specialty Products Corporation to Report Q4, 2016 Final Results on Mar 13, 2017

Platform Specialty Products Corporation announced that they will report Q4, 2016 final results on Mar 13, 2017

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Recent Private Companies Transactions

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Target
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