Hannes Snellman Counsel to Synthomer on the Acquisition of Perstorp Oxo Belgium
FTSE 250 chemicals company Synthomer, a UK-based manufacturer of latices and speciality emulsion polymers, has acquired Perstorp Oxo Belgium from Perstorp, a speciality chemicals innovator and supplier based in Sweden and controlled by PAI partners.
The enterprise value amounted to EUR 78 million.
Perstorp Oxo Belgium is a niche performance additives business serving the decorative and industrial coatings industries. It has strong market leadership positions and serves a highly attractive, blue-chip customer base. The business is incorporated in Sweden but mainly operates from a well located, single site in Ghent (Belgium) where there is potential for growth capacity for future demand.