BASF acquires Novolyte Technologies from Arsenal Capital Partners
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BASF acquires Novolyte Technologies from Arsenal Capital Partners

6:27 AM, 26th April 2012
BASF acquires Novolyte Technologies from Arsenal Capital Partners

LUDWIGSHAFEN, GERMANY/CLEVELAND, US: BASF has acquired Novolyte Technologies, Cleveland, US. Novolyte is a manufacturer of electrolyte formulations for lithium-ion batteries, as well as specialty chemicals for several key market segments. BASF purchases Novolyte from Arsenal Capital Partners, a US-based private equity firm. Financial details were not disclosed. The acquisition comprises Novolyte’s Energy Storage activities focused on developing, producing and marketing performance electrolyte formulations for lithium-ion batteries.

BASF also buys Novolyte’s performance materials business in which the company is among the leading manufacturers of specialty chemicals in North America. The portfolio includes aryl phosphines, high-performance solvents and custom-made specialties. The acquisition includes 10 patent families in the fields of electrolyte formulation and performance chemicals held by Novolyte. BASF will also continue a joint venture of Novolyte with Korean partner Foosung Ltd for manufacturing lithium-ion battery electrolytes.

“Our acquisition of Novolyte Technologies further positions BASF to achieve its long-term objective of becoming the leading provider of functional materials and components to serve cell and battery manufacturers worldwide. This is the latest in a series of strategic steps we have taken to strengthen our technology position while building a broad portfolio of battery materials technologies that will help us drive the future of electromobility,” said Ralf Meixner, Senior Vice President, Global Battery Materials Business, BASF.

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