Arsenal Capital to acquire Evonik’s global colorants business
Evonik’s colorants business develops, produces and markets the Colortrend brand of paints for decorative end-use applications in the architecture sector. Its Chroma-chem products are used for industrial applications including maintenance and marine and timber coatings. The colorants are also formulated for ecological sustainability.
In 2011 Evonik’s colorants business generated sales of around €130 million, with roughly half of this amount coming from the United States. In addition to a facility in Lockland, Ohio, U.S., there are production plants in Maastricht, the Netherlands; Dandenong, Australia; and Brampton, Canada, operating with over 300 employees.
The transaction is expected to be closed in April 2012, subject to the approval of Evonik’s supervisory board and regulatory approvals.