Reichhold, Polynt to merge by second half of 2016

6:23 AM, 12th May 2016
John Gaither, president and CEO, Reichhold. (File photo)

DURHAM, US/SCANZOROSCIATE, ITALY: Reichhold Group and Polynt Group said they will merge the two businesses, to create a vertically-integrated manufacturer of resins for composites and coatings and of other specialized chemicals, including intermediates, plasticizers, additives and compounds. The transaction is expected to be completed in the second half of this year.

Currently, Polynt is wholly-owned by funds managed by Investindustrial and Reichhold is owned by a group of investors, including funds managed by Black Diamond Capital Management LLC. Black Diamond and Investindustrial will become equal investors and majority stakeholders in the combined business.

“With increased scale and product diversity, we can deploy a larger portfolio of products and provide more comprehensive offerings to benefit our collective customers,” said John Gaither, president and CEO, Reichhold.

“Our aim to better serve our stakeholders and customers will be further strengthened by the combination of two industry leaders, historically devoted to innovation and customer orientation,” said Rosario Valido, president and CEO, Polynt.

© Worldofchemicals News

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