News Coverage
Reichhold, Polynt to Merge
Source:Composites World
2016-05-12 10:46:29
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Reichhold LLC2 (Durham, NC, US) and Italy-based Polynt have agreed to combine their businesses to form a global company in the composite resins and coating industry with more than $2.4 billion in revenues. The business combination is expected to create a global, vertically-integrated manufacturer of resins for composites and coatings and of other specialized chemicals, including intermediates, plasticizers, additives and compounds. The newly formed company will be owned equally by funds managed by Black Diamond Capital Management and Investindustrial.

The company will benefit from further enhanced global scale and manufacturing footprint, vertical integration, extensive product portfolios of both businesses and complementary R&D competencies. Additionally, the group expects to take advantage of the many synergies resulting from an overlap of manufacturing locations and sales, general and administrative functions among others.

The transaction is subject to customary regulatory approvals and is expected to close in the second half of 2016.

“This compelling deal is expected to result in significant synergy opportunities and will enable our combined businesses to be more competitive, offer better services and more innovative solutions to our customers. It will allow us to respond more effectively to evolving industry dynamics and customer needs. With increased scale and product diversity, we can deploy a larger portfolio of products and provide more comprehensive offerings to benefit our collective customers. This combination brings together two strong businesses and positions us to succeed in a dynamic and highly competitive global marketplace,” said John Gaither, president and CEO of 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. Our people are always committed to improve their performance and knowledge for the benefit and growth of our industry. We welcome the opportunity to leverage the potential of the new group,” adds Rosario Valido, president and CEO of Polynt.