Advent and Platinum Equity circle DuPont’s Kevlar and Nomex brands in $2bn race
Private equity firms Advent International and Platinum Equity are reportedly leading the race to acquire DuPont’s protective equipment business, including the iconic Kevlar and Nomex brands.
According to sources cited by the Financial Times, both firms are preparing final-round bids expected to be submitted later this month.
The auction comes as DuPont restructures its business in a broader move to become a more focused industrials group specialising in materials science and engineering.
The divestment of Kevlar and Nomex forms part of this corporate overhaul, which also includes plans to spin off DuPont’s electronics division by November 2025. However, insiders note that DuPont could still decide to retain the assets, and other bidders may yet emerge.
Kevlar, best known for its application in bulletproof vests and body armour, and Nomex, a heat-resistant material used by firefighters, military personnel, and race car drivers, were both developed by DuPont in the 1960s. They remain some of the company’s most recognisable products within the protective materials space.
This transaction marks another step in DuPont’s evolution following the $130bn merger of Dow and DuPont in 2017 and the subsequent break-up of DowDuPont into three separate listed companies: Corteva Agriscience, Dow, and the reconstituted DuPont.
Despite a strong first-quarter earnings report in May, DuPont – like other US industrial manufacturers – faces ongoing pressure from geopolitical tensions, particularly the threat of reduced exports to China amid rising trade friction.
DuPont, Advent, and Platinum have all declined to comment on the ongoing sale process.