MOSCOW (MRC) -- Advent International is to acquire Netherlands-based chemicals distributor Caldic and merge the firm with portfolio company Grupo Transmerquim, a distribution firm active in Latin America, said the company.
With annual revenues of around EUR1bn in 2020, Caldic distributes specialty and life sciences chemicals in Europe, northern America and the Asia Pacific region, while Grupo Transmerquin – acquired by Advent in 2014 – has a presence in every country in Latin America, according to Advent. Caldic was formerly owned by Goldman Sachs Asset Management.
"As with all our investments, we pursue a long-term growth approach and intend to support Caldic throughout its next phase of growth,” said Advent chemicals head Ronald Ayles. “We see great prospects in the combination with GTM, nearly doubling the size of the New Caldic from the start."
The deal is expected to close in the first half of 2021. The company declined to disclose transaction details.
As per MRC, Advent has agreed to sell German coating resins maker Allnex to Thailand’s PTT Global Chemical (PTTGC) for around EUR4 billion (USD4.75 billion). Allnex, whose products are used in the industrial metal, automotive and packaging industries, has annual revenue of EUR2 billion and employs 4,000 employees worldwide. The deal values Allnex at 12.2 times its annual core earnings.
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,868,160 tonnes in the first nine months of 2021, up by 18% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 1,138,510 tonnes in January-September 2021, up by 30% year on year. Supply of propylene homopolymer (homopolymer PP) and block-copolymers of propylene (PP block copolymers) increased, whereas supply of injection moulding statistical copolymers of propylene (PP random copolymers) decreased significantly.