23 May 2017
23 May 2017
Polynt and Reichhold have announced the closing of the merger announced last year, after receiving all regulatory approvals.
Polynt-Reichhold is a global company in the intermediates, coating and composite resins, thermoset compounds, gel-coats and niche specialities with over €2 billion in revenues. Investindustrial and Black Diamond Capital Management are equal investors in the new group.
The company says this merger enhances its leading position as a global vertically integrated speciality chemicals player, with significant global presence in Europe, North America and Asia, a strategy initiated by Polynt with the successful integration of PCCR and CCP in the last five years and now further reinforced by Reichhold’s global scale, product portfolio and R&D competencies.
“We are pleased that Polynt, whose highly experienced management team is led by chief executive Rosario Valido, has grown from a company with less than €600 million of revenues at the time of our initial investment to now form a group with revenues of €2 billion and established global operations,” says Andrea C. Bonomi, Investindustrial’s Chairman and Managing Principal.
“We intend to quickly align the cultures within the combination to support our global leadership position, better serve our customers and create value for our shareholders,” adds Rosario Valido, President and CEO of the new group. “With 44 plants across the world the company will be the closest to the local needs of its customers and the just in time suppliers of speciality chemicals in the geographies in which they have operations. Our aim is to grow our business together with our customers and to drive the quality of our products toward the highest expectations of the industry.”
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