Polynt and Reichhold complete merger to create a global specialty chemicals group
May 19, 2017 – Polynt and Reichhold are pleased to announce the closing of the combination announced last year, after having received all regulatory approvals. The new Polynt-Reichhold (or “the Group”) is a global company in the Intermediates, Coating and Composite Resins, Thermoset Compounds, Gel-coats and niche Specialties with over €2 billion in revenues. Investindustrial and Black Diamond Capital Management, L.L.C. ("Black Diamond") are equal investors in the new group.
This combination enhances the Group’s leading position as a global vertically integrated specialty 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, extensive product portfolio and R&D competencies. The Group’s excellence in serving customers around the world will be further strengthened by the merger of best in class innovation and a customer oriented approach.
Investindustrial’s Chairman and Managing Principal Andrea C. Bonomi commented: “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.”
“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”, added 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 specialty 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.”
Founded in 1955, Polynt Group (www.polynt.com) 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.
Founded in 1927, Reichhold (www.reichhold.com) is one of the world’s largest manufacturers of unsaturated polyester resins and a leading supplier 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.
Investindustrial is a leading European group of independently managed investment, holding and advisory companies with €6.5 billion of raised fund capital, which provides industrial solutions and capital to mid-market companies in Europe. Its mission is to actively contribute to the development of the companies in which it invests, by creating growth opportunities and offering global solutions through an entrepreneurial pan-European vision. Investindustrial has a history of more than 25 years of successfully partnering with companies in Europe. Certain companies of the Investindustrial group are authorized by, and subject to regulatory supervision of the FCA in the United Kingdom, the CSSF in Luxembourg and the FINMA in Switzerland. Additional information is available at www.investindustrial.com.
For further information please contact:Maitland
Tel +44 (0) 207 379 0450
Mob + 44 (0) 7990 595 913
Senior Principal & Head of Investor Relations
Tel +44 (0) 207 664 2138
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Polynt Group: a fine view. A few numbers to tell the story of a success that, in more than 60 years, reached four continents in the world.
34 plants in the world
1280 mio € turnover in 2015
690 kton volume sale in 2015