MOSCOW (MRC) -- Synthomer plc has acquired Perstorp Oxo Belgium AB from the Swedish Perstorp Holding AB for EUR 78 million, reported GV.
Perstorp Belgium is a niche additives business serving the decorative and industrial coatings industries. In 2016, the business generated earnings before interest and tax of EUR 8 million and had gross assets of EUR 21 million. The company operates from a single site in Ghent, Belgium, and has 41 employees, who will all be transferred with the business.
As MRC informed before, in March 2016, Synthomer acquired the Hexion Performance Adhesives & Coatings (Hexion PAC) business of US-based Hexion in a transaction valued at USD226m. Following the acquisition, Synthomer will get access to new product technologies and markets. Hexion PAC is complementary to the company's existing business, both geographically as well as in the markets in which it operates. The acquisition will enable Synthomer to venture into the speciality coatings market. Integration of the Hexion PAC business will offer around USD12m of annualised synergies to the company by the end of 2018.
Synthomer is one of the world’s major suppliers of latices and speciality emulsion polymers supporting leadership positions in many market segments including coatings, construction, textiles, paper and synthetic latex gloves. The company has its Head Office in London, UK and provides customer focused services from operational centres in Marl, Germany, Harlow, UK, and Kuala Lumpur, Malaysia.
MRC