Valtris Specialty Chemicals, a portfolio company of HIG Capital (a global private equity investment firm with $19 billion of equity capital under management), has acquired Akcros Holdings Limited.

Valtris is a leading manufacturer of specialty chemicals primarily used as additives in the production and processing of polymers, sealants, and chemical intermediates and was carved-out of Ferro Corporation by HIG in December of 2014.

Akcros Chemicals is a provider of specialty chemicals used as additives in the production and processing of polymers, paint, and coatings with operations in both Europe and North America. Akcros is well known to its customers for is strong R&D capabilities, customer service orientation and breadth of product offering. Akcros has two primary manufacturing sites in Eccles (UK) and New Brunswick (NJ) with additional production capability in Mumbai (India) and Guangzhou (China). The acquisition of Akcros will provide additional manufacturing capabilities, increased product breadth and a global presence helping Valtris expand as a leading global player in the polymer additives industry.

Paul Angus, CEO of Valtris, said, “Akcros is a highly strategic and complementary acquisition for us, providing new and multiple avenues for growth. There are significant opportunities to enhance our product offerings and provide more value to our customers. In addition, Valtris will now be a leading player not only in North America but also in Europe, a major goal of ours.”

Keval Patel, managing director of HIG Capital, said, “Akcros is an industry leader in Europe in a number of product lines that are highly complementary to Valtris and has an excellent track record of quality and consistency.”

HIG continues to be very active in the chemical sector as Akcros highlights the eleventh acquisition that HIG has completed in the space since 2008 and fourth in the last two years.

 

Source : business-standard.com

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