Solstice to Buy Element Solutions for €12.4 Billion as Lockheed Martin Acquires Ultra Maritime for €3.0 Billion
- Alexij K. Fartelj
- 10 hours ago
- 2 min read
Strategic assets are becoming the center of corporate competition as companies move to secure technology, supply chains, and defense capabilities.
Two major acquisitions announced this week highlight a broader push by companies to secure strategic capabilities across advanced materials, industrial technology, and defense systems.
Solstice Advanced Materials has agreed to acquire Element Solutions in a cash-and-stock transaction valued at approximately €12.4 billion, including assumed net debt. The deal creates a larger specialty materials platform focused on electronics, AI infrastructure, thermal management, and industrial applications.
Under the agreement, Element Solutions shareholders will receive €8.55 in cash plus 0.500 shares of Solstice stock for each Element share, implying a transaction value of approximately €42.80 per share and a premium of around 15% over Element’s recent closing price. Following completion, Element shareholders will own approximately 44% of the combined company.
The transaction is expected to close in the first half of 2027, subject to regulatory and shareholder approvals. Solstice CEO David Sewell will lead the combined company, which will continue operating under the Solstice name.
The combined business generated approximately €5.8 billion in 2025 revenue, strengthening Solstice’s position in specialty materials used across electronics, industrial applications, and next-generation infrastructure.
Solstice said the acquisition will expand its exposure to markets benefiting from long-term technology investment, while the company expects to reduce leverage following the transaction. Financing includes a €4.0 billion bridge commitment from Goldman Sachs, alongside new debt and available cash.
Separately, Lockheed Martin announced an agreement to acquire Ultra Maritime for approximately €3.0 billion, expanding its capabilities in undersea defense technology.
Ultra Maritime specializes in sonar systems, anti-submarine warfare technologies, autonomous maritime platforms, and underwater sensing solutions. Following completion, the company will become part of Lockheed Martin’s Rotary and Mission Systems business.
Stephanie C. Hill, president of Lockheed Martin Rotary and Mission Systems, said the acquisition would strengthen the company’s ability to deliver advanced undersea capabilities for the United States and allied partners.
The two transactions reflect a broader corporate trend: companies are increasingly targeting strategic assets in sectors where technological competition, defense priorities, and supply chain resilience are driving long-term investment.
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