BASF
PolyAd Services subsidiary sold to Edgewater Capital Partners / Focus on light stabilisers, antioxidants and customer specific blends
In a deal the financial details of which were not disclosed, BASF (Ludwigshafen / Germany; www.basf.com) has sold its PolyAd Services (Lampertheim / Germany; www.polyadservices.com) subsidiary to private equity group Edgewater Capital Partners (Cleveland, Ohio / USA; www.edgewatercapital.com/). The transaction is expected to close in Q2 2014.
In divesting PolyAd – a stand-alone business that served as part of its Plastic Additives unit – BASF says it is increasing its focus on light stabilisers, antioxidants and customer specific blends. The German chemical giant added that PolyAd’s services model – which comprises special blends and services for the compounding and converting industry – “is a niche business that offers a limited channel to market for its product portfolio.”
Meanwhile, Edgewater Capital managing partner Ryan Meany said the group sees “positive future growth prospects for PolyAd”, whose output is geared mostly at the automotive, construction, packaging and electronics sectors.
In divesting PolyAd – a stand-alone business that served as part of its Plastic Additives unit – BASF says it is increasing its focus on light stabilisers, antioxidants and customer specific blends. The German chemical giant added that PolyAd’s services model – which comprises special blends and services for the compounding and converting industry – “is a niche business that offers a limited channel to market for its product portfolio.”
Meanwhile, Edgewater Capital managing partner Ryan Meany said the group sees “positive future growth prospects for PolyAd”, whose output is geared mostly at the automotive, construction, packaging and electronics sectors.
10.03.2014 Plasteurope.com [227732-0]
Published on 10.03.2014
German version of this article...