Process Management

News last update:6 Aug 2012

CVC acquires chemical company Taminco

CVC Capital Partners Ltd., Europe's second-biggest buyout firm, agreed to buy Belgian chemical company Taminco NV for €800 million ($1.1 billion) to add a maker of ingredients used in the pharmaceutical industry.

Taminco produces alkylamines and derivatives, key building blocks for the pharmaceutical, agrochemical, animal feed and water treatment industries. Taminco was established in its current form following a carve-out from UCB in October 2003.

The chemical company recently acquired the amines business of Air Products, nearly doubling the firm's size and firmly positioning itself as the global market leader in methylamines, methylamine derivatives and higher amines, supplying clients in the drug, agrochemical, animal feed and water-treatment industries.

CVC purchased Ghent-based Taminco from Dutch investment firm AlpInvest Partners NV in an auction run by Merrill Lynch & Co, the London-based private-equity company.

Taminco employs 850 people at plants in Germany, the US, Brazil and China, as well as Belgium, and predicts sales of about €600 million this year, CVC said.

"Our priorities and our business structure will remain unchanged," Taminco Chief Executive Officer Pol Vanderhaeghen said in the CVC statement. "On the contrary, Taminco will be even more focused on globalizing its activities and integrating into new selected derivatives."

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