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TheStreet Open House

Platform Lists on NYSE After MacDermid Deal, Pershing Stake

MacDermid's businesses span specialty areas such as adhesives, water treatment operations, crop protection and coatings.

The company splits its performance materials segments into industrial, electronics, offshore and graphic solutions segments. It's customer base ranges from electronics firms such as LG and Samsung, to automakers General Motors (GM), Ford (F) and Fiat and offshore oil and gas drillers.

Of the firm's 2,000 employees worldwide, approximately 1,000 are R&D chemists, underscoring that MacDermid isn't the traditional plant and equipment heavy industrial firm.

Through the first nine months of 2013, Macdermid's operations generated net revenue of $560 million and $24 million in net income. MacDermid's performance materials division generated $429 million in net revenue and its graphic solutions division generated $131 million in net revenue through the first three quarters of 2013.

Franklin said there are plenty of companies for Platform to target and he expects that after its NYSE listing, the firm will be able to use MacDermid to tap capital markets for future acquisitions.

"Our strategy is to provide a good home for solid management teams where we respect their business DNA...This is going to be an acquisition story as well as an organic growth story," Franklin said of Platform.

Shares in Platform Specialty Products were falling more than 1% to $14.70 in early Friday trading. The company currently carries a market capitalization of about $1.5 billion.

-- Written by Antoine Gara in New York

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