Evonik announced that it has entered into an agreement to sell its global colorants business to the U.S. private investment firm Arsenal Capital Partners. The transaction is expected to be closed in April 2012 following the approval of Evonik’s Supervisory Board and the relevant regulatory authorities. It was agreed not to disclose the financial terms.
The colorants business develops, produces, and markets colorant systems for decorative coatings as well as industrial applications including maintenance, marine and wood coatings under the trademarks COLORTREND® and CHROMA-CHEM®, respectively. In 2011 the colorants business generated sales of around €130 million. With a global setup the business employs more than 300 people. Facilities are located in the USA, Canada, Brazil, Australia, China, Malaysia, and the Netherlands.
- Evonik Industries AG, Essen, Germany