April 9, 2021

Plixxent Acquisition

Plixxent: Acquisition of British PU systems producer MRi Polytech

On 29 March 2021, Plixxent Holding GmbH announced the acquisition of MRi Polytech, a British producer of polyurethane systems focusing on outdoor systems as well as specialist CASE applications. Financial details of the transaction were not disclosed.

Plixxent is a leading independent polyurethane systems house with a focus on tailor-made systems and operates four production sites in Germany, the Netherlands, Denmark and Spain as well as nine further sales locations in Europe. Its polyurethane systems are used across a variety of industries including construction, energy, insulation, footwear, appliances, furniture and automotive. The company is majority-owned by H.I.G. Capital, a global private equity firm with more than EUR 34 billion capital under management.

According to Plixxent, with the acquisition of MRi Polytech the company extends its European footprint to the UK and strengthens and expands its product offering in the CASE segment with flooring products and adhesives for food packaging. Plixxent said this is a first step to significantly grow its presence in the region with both existing and new customers, and support the growth of MRi Polytech’s products in continental Europe. MRi’s activities will continue to operate under their established trading names and the business and employees will benefit from the integration into the Plixxent network.

Vincent Snell, founder and owner of MRi Polytech, said: “MRi is a success story which has consistently delivered growth and profitability. More than two decades after I have founded this company, it is now time to open a new chapter. The integration into Plixxent allows us to reap further potential by being part of a truly pan-European platform. I am very proud of what the management team has achieved so far, and Plixxent is a perfect fit for MRi.”

Dr. Jörg Schottek, CEO of Plixxent, commented: “MRi’s development in the past years has been impressive. With their broad expertise in complex polyurethane solutions and their in-depth market understanding, MRi has built a strong and sustainable market position. We are delighted that MRi Polytech is now part of Plixxent and look forward to continuing our growth trajectory together. This acquisition significantly strengthens Plixxent’s position as leading independent supplier of polyurethane-based solutions in Europe.”

www.plixxent.com
www.mri-polytech.com

https://www.gupta-verlag.com/news/industry/25078/plixxent-acquisition-of-british-pu-systems-producer-mri-polytech

Plixxent consists of the former Covestro system house network in Europe: https://everchem.com/covestro-closes-divestiture/

April 9, 2021

Plixxent Acquisition

Plixxent: Acquisition of British PU systems producer MRi Polytech

On 29 March 2021, Plixxent Holding GmbH announced the acquisition of MRi Polytech, a British producer of polyurethane systems focusing on outdoor systems as well as specialist CASE applications. Financial details of the transaction were not disclosed.

Plixxent is a leading independent polyurethane systems house with a focus on tailor-made systems and operates four production sites in Germany, the Netherlands, Denmark and Spain as well as nine further sales locations in Europe. Its polyurethane systems are used across a variety of industries including construction, energy, insulation, footwear, appliances, furniture and automotive. The company is majority-owned by H.I.G. Capital, a global private equity firm with more than EUR 34 billion capital under management.

According to Plixxent, with the acquisition of MRi Polytech the company extends its European footprint to the UK and strengthens and expands its product offering in the CASE segment with flooring products and adhesives for food packaging. Plixxent said this is a first step to significantly grow its presence in the region with both existing and new customers, and support the growth of MRi Polytech’s products in continental Europe. MRi’s activities will continue to operate under their established trading names and the business and employees will benefit from the integration into the Plixxent network.

Vincent Snell, founder and owner of MRi Polytech, said: “MRi is a success story which has consistently delivered growth and profitability. More than two decades after I have founded this company, it is now time to open a new chapter. The integration into Plixxent allows us to reap further potential by being part of a truly pan-European platform. I am very proud of what the management team has achieved so far, and Plixxent is a perfect fit for MRi.”

Dr. Jörg Schottek, CEO of Plixxent, commented: “MRi’s development in the past years has been impressive. With their broad expertise in complex polyurethane solutions and their in-depth market understanding, MRi has built a strong and sustainable market position. We are delighted that MRi Polytech is now part of Plixxent and look forward to continuing our growth trajectory together. This acquisition significantly strengthens Plixxent’s position as leading independent supplier of polyurethane-based solutions in Europe.”

www.plixxent.com
www.mri-polytech.com

https://www.gupta-verlag.com/news/industry/25078/plixxent-acquisition-of-british-pu-systems-producer-mri-polytech

Plixxent consists of the former Covestro system house network in Europe: https://everchem.com/covestro-closes-divestiture/

April 8, 2021

Q1 Chemical M&A

Chemical Deal Results

http://www.chemicaldeals.com/Results.aspx?searchtext=&quarter=1st%20Quarter%202021

April 8, 2021

Q1 Chemical M&A

Chemical Deal Results

http://www.chemicaldeals.com/Results.aspx?searchtext=&quarter=1st%20Quarter%202021

April 5, 2021

Covestro Completes Acquisition

01 April 2021

Covestro successfully completes acquisition of Resins & Functional Materials business from DSM

Significant step towards implementing the company’s long-term strategy

• Covestro to become one of the leading global suppliers for sustainable coating resins
• Acquisition adds around EUR 1 billion in revenues
• Consequent implementation of sustainable growth strategy

On April 1, 2021, Covestro succesfully completed the acquisition of the Resins & Functional Materials business (RFM) from the Dutch company Royal DSM. The transaction received regulatory approval after Covestro and DSM signed an acquisition agreement in late September 2020. The transaction substantially expands Covestro’s portfolio of sustainable coating resins, making the Group one of the world’s leading providers in this growth market. The integration of RFM will expand the Group’s revenues by around EUR 1 billion and will add more than 20 sites to its global production network.

“The acquisition of RFM significantly contributes to the implementation of our new Group strategy. With this transaction, we are taking another important step towards sustainability, while at the same time generating sustainable growth,” said Dr. Markus Steilemann, CEO of Covestro. “We are looking forward to meeting our new colleagues and warmly welcoming them to Covestro.”

With the transaction, Covestro is expanding its business in several areas. The Group is already one of the leading global providers of water-based polyurethane dispersions. The acquisition of RFM adds a complete range of water-based polyacrylate resins, as well as strong brands in terms of sustainability such as Niaga®, solutions for additive manufacturing, and an advanced solar coatings business. In addition, Covestro is enhancing its technology portfolio to include water-based hybrid technologies, powder coating resins as well as radiation curing resins.

Sucheta Govil, Chief Commercial Officer at Covestro: “With this transaction, we are strengthening our extensive portfolio with further innovative products and technologies that will enable us to meet our customers’ needs in optimal fashion. Now our focus is on integrating the teams, leveraging talent and providing the best possible support for our new and existing customers.”

Following a comprehensive analysis, Covestro expects permanent (“run-rate”) synergy effects to build-up to about EUR 120 million per annum from full integration by 2025. These consist of approximately two-thirds of cost and one-third of revenue synergies.

https://www.covestro.com/investors/news/covestro-successfully-completes-acquisition-of-resins–functional-materials-business-from-dsm/