Element Solutions Inc. completed its acquisition of EFC Gases & Advanced Materials, a standalone unit of Ellington Financial Inc., on January 7, 2026. The transaction places specialty gases and advanced materials under Element’s newly renamed Specialties Segment, broadening the company’s reach into semiconductor manufacturing, electrical transmission infrastructure, and space‑related applications.
Deal terms were not disclosed, but the purchase adds a high‑margin niche business to a company that reported record 2024 results: net sales of $2.46 billion, an 11% increase from 2023, and adjusted EBITDA of $535 million, an 11% rise. The Industrial & Specialty segment, now the Specialties Segment, posted a 20.8% adjusted EBITDA margin in Q4 2024. Management expects the combined unit to deliver mid‑single‑digit revenue growth while keeping adjusted EBITDA margins above 20% for the new segment.
Ellington Financial’s divestiture removes a non‑core asset and frees capital for its core mortgage‑finance platform. The company’s 2024 revenue of $303.86 million and earnings of $117.83 million underscore the scale of its core operations. The sale is intended to strengthen Ellington’s balance sheet and support future securitization activity.
Benjamin Gliklich, Element’s CEO, said the acquisition brings “high‑value, differentiated capabilities in specialty and rare gases together with advanced materials” and introduces new growth vectors in semiconductors, transmission, and space markets. Pavel Perlov, EFC’s president, noted that the partnership will accelerate service to customers with an expanded portfolio while preserving the agility and customer focus that define EFC.
The deal fits Element’s broader acquisition strategy, which has included Coventya in 2021 and Kuprion in 2023. The EFC transaction is projected to be over 7% accretive to adjusted earnings per share in 2026. Rebranding the Industrial & Specialty segment to Specialties signals a sharpened focus on high‑margin, high‑growth niche markets.
Investors have highlighted Element’s strong performance in electronics and semiconductor segments, with record 2024 results. The acquisition supports this trajectory and aligns with the company’s strategy to capture growth in high‑value specialty markets.
The transaction positions Element Solutions to capture growth in semiconductor, transmission, and space markets while Ellington Financial refocuses on its core mortgage‑finance business, strengthening both companies’ strategic focus and financial profiles.
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