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Polynt and Reichhold to Merge its Businesses for Coatings Resins Production

Published on 2016-05-13. Author : SpecialChem

DURHAM, NORTH CAROLINA, United States and SCANZOROSCIATE, BERGAMO, Italy -- Polynt Group (“Polynt”) and Reichhold Group (“Reichhold”) announced a definitive agreement to effect the combination of the two businesses. The business combination is expected to create a global, vertically-integrated 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 (“Investindustrial”), and Reichhold is owned by a group of investors, including funds managed by Black Diamond Capital Management, LLC (“Black Diamond”). Black Diamond and Investindustrial intend to become equal investors and, collectively, majority stakeholders in the combined business. The transaction is subject to requisite regulatory approvals and customary closing conditions, and is expected to be completed in the second half of 2016.

Fig. 1: Polynt and Reichhold to Merge its Businesses for Coatings Resins Production

“This compelling deal is expected to result in significant synergy opportunities and will enable our combined businesses to be more competitive, offer better services and more innovative solutions to our customers. It will allow us to respond more effectively to evolving industry dynamics and customer needs. With increased scale and product diversity, we can deploy a larger portfolio of products and provide more comprehensive offerings to benefit our collective customers. This combination brings together two strong businesses and positions us to succeed in a dynamic and highly competitive global marketplace,” said John S. Gaither, President and CEO, Reichhold.

“Our aim to better serve our stakeholders and customers will be further strengthened by the combination of two industry leaders, historically devoted to innovation and customer orientation. Our people are always committed to improve their performance and knowledge for the benefit and growth of our industry. We welcome the opportunity to leverage the potential of the new group,” adds Rosario Valido, President and CEO of Polynt.

About Polynt

Founded in 1955, Polynt Group is one of the world’s largest manufacturers and suppliers of specialties, intermediates and composites for the industrial, transportation, building and construction, marine, medical, consumer, and food additive markets. Polynt has manufacturing operations throughout North and South America, Europe, and Asia.

About Reichhold

Founded in 1927, Reichhold is one of the world’s largest manufacturers of unsaturated polyester resins and one of the leading suppliers of coating resins for the industrial, transportation, building and construction, marine, consumer and graphic arts markets. Reichhold has manufacturing operations throughout North and South America, the Middle East, Europe and Asia.

Source: Reichhold
 

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