United Initiators (UI), a private equity owned company with headquarters in Germany, produces and distributes peroxides and persulfates. It acquired Syrgis Performance Initiators (SPI), a manufacturer of organic peroxides used in the production of thermoset composites, from Syrgis Performance Products which is owned by Edgewater Capital Partners.
Acquiring SPI will enable United Initiators to expand its product range and geographic reach. The acquisition will provide United Initiators with improved access to the organic peroxides markets across the Americas, Europe and Asia-Pacific, in addition to a strong global persulfates position, facilitating opportunities for future growth and expansion.
United Initiators believes the acquisition will provide it with a leading position in the composites market.
The combined turnover of United Initiators and SPI is expected to exceed €200 million.
Syrgis Performance Initiators was formed when the Syrgis group acquired the organic peroxides division of Norac Inc in 2007. With manufacturing, sales and distribution facilities in the USA and Sweden, SPI claims to be the leading manufacturer of methyl ethyl ketone peroxides (MEKP) in North America and third in the world in organic peroxides for plastics and reinforced thermoset composites.
“We are delighted to announce our acquisition of SPI, whose market leading organic peroxide products will complement our existing initiators business," says United Initiators CEO Ed Hoozemans.
"SPI is a highly regarded supplier of peroxides to the thermoset composite market segment and we see significant opportunity to build upon its established customer relationships and operational capabilities in the Americas, Europe and Asia-Pacific.”
“With the support of our partners at Vision Capital and Speyside Equity, we are investing considerable resources to grow the business and this is an important step in creating a world leading player in speciality initiators,” he adds.
The aquisition took place at the end of July.