United Initiators (UI) has acquired Syrgis Performance Initiators (SPI) from Syrgis Performance Products which is owned by Edgewater Capital Partners.
UI explains that acquiring SPI will enable it to expand its product range and geographic reach. The acquisition will provide it with improved access to the organic peroxides markets across the Americas, Europe and Asia-Pacific in addition to a strong global persulfates position, facilitating opportunities for future growth and expansion. UI says the acquisition provides it with the critical mass for having a leading position in the growing composite materials markets. The combined turnover of United Initiators and SPI is expected to exceed €200 million.
Commenting on the acquisition, UI CEO Ed Hoozemans said “We are delighted to announce our acquisition of SPI, whose market leading organic peroxide products will complement our existing initiators business. SPI is a highly regarded supplier of peroxides to the thermoset composite market segment and we see significant opportunity to build upon its established customer relationships and operational capabilities in the Americas, Europe and Asia-Pacific.”
“With the support of our partners at Vision Capital and Speyside Equity, we are investing considerable resources to grow the business and this is an important step in creating a world leading player in speciality initiators.”
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