Polynt Group and Reichhold Group have announced a definitive agreement to combine the two businesses. The business combination is expected to create a new, international manufacturer of resins for composites and coatings and of other specialized chemicals, including intermediates, plasticizers, additives and compounds.
Currently, Polynt is wholly-owned by funds managed by Investindustrial, while Reichhold is owned by a group of investors, including funds managed by Black Diamond Capital Management, LLC. Black Diamond and Investindustrial intend to become equal investors and, collectively, majority stakeholders in the combined business. The transaction is expected to be completed in the second half of 2016.
‘This compelling deal [...] will allow us to respond more effectively to evolving industry dynamics and customer needs,’ said John S. Gaither, President and CEO, Reichhold. ‘With increased scale and product diversity, we can deploy a larger portfolio of products and provide more comprehensive offerings to benefit our collective customers.’
‘Our aim to better serve our stakeholders and customers will be further strengthened by the combination of two industry leaders,’ added Rosario Valido, president and CEO of Polynt. ‘We welcome the opportunity to leverage the potential of the new group.
This story is reprinted from material from Polynt,and Reichhold, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.