ELM

Elementis PLC

Chemicals First-pass screen £843m

370/1000 Overall fit

AI beneficiary 35% 25

Operating leverage 25% 45

Valuation 25% 30

Downside protection 15% 62

First-pass take

Specialty chemicals company with cyclical exposure (Energy -16%, Chromium pressured by currency), zero AI exposure, and margin compression (17.9% to 14.3%). Strengths: $77.5m net cash, 14% Personal Care growth, SummitReheis acquisition. Insufficient to clear threshold.

Flags

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