Reichhold and Polynt have announced the closing of the combination announced last year, after having received all regulatory approvals. The new Polynt-Reichhold is a global company in the Intermediates, Coating and Composite Resins, Thermoset Compounds, Gel-coats and niche Specialties with more than €2 billion in revenues. Black Diamond Capital Management, L.L.C. and Investindustrial 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 presence in North America, Europe, and Asia, based on Reichhold's global scale, extensive product portfolio and R&D competencies, now further reinforced by Polynt with the successful integration of PCCR and CCP in the last five years. 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.

Black Diamond's managing principal, Stephen H. Deckoff, commented on the transaction: "We are pleased with the final outcome of this combination as it brings together two leading specialty chemical businesses with global footprints. The combination provides the opportunity to capitalize on increased scale, complementary manufacturing and product development capabilities and significant synergies to compete successfully in the marketplace going forward."

"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."