GIL Investments (“GIL”) has sold its interest in Akcros Chemicals (“Akcros”), a GIL Investments portfolio business, to Valtris Specialty Chemicals (“Valtris”), an H.I.G. Capital (“H.I.G”) portfolio company. HIG is a leading global private equity investment firm with $19 billion of equity capital under management. Valtris is a leading manufacturer of specialty chemicals primarily used as additives in the production and processing of polymers, sealants, and chemical intermediates and was carved-out of Ferro Corporation by H.I.G. in December of 2014.
Akcros Chemicals is a provider of specialty chemicals used as additives in the production and processing of polymers, paint, and coatings with operations in both Europe and North America. Akcros is well known to its customers for is strong R&D capabilities, customer service orientation and breadth of product offering. Akcros has two primary manufacturing sites in Eccles, U.K. and New Brunswick, NJ with additional production capability in Mumbai, India and Guangzhou, China. The acquisition of Akcros will provide additional manufacturing capabilities, increased product breadth and a global presence helping Valtris expand as a leading global player in the polymer additives industry.
Les Litwinowicz, CEO of GIL, said “I have mixed emotions as on the one hand Akcros has been both a very successful business for us over the years and a successful exit but on the other hand we are losing an excellent business and an exceptional management team. We would like to thank all the people connected with Akcros over the years for all their hard work and dedication.
Having had the opportunity to get to know both H.I.G and Valtris, their corporate culture and professionalism during the process I am sure they will be an excellent home for Akcros as well as Akcros being a great addition for H.I G”.
H.I.G. continues to be very active in the chemical sector as Akcros highlights the eleventh acquisition that H.I.G. has completed in the space since 2008 and fourth in the last two years.
Akcros and GIL were advised by CIM Partners, Grant Thornton and Gateley on this transaction.
About Akcros Holdings Limited
GIL supported a management buyout of Akcros from Akzo Nobel in 2007.
With its origins dating back to 1937, Akcros is one of the world leaders in the field of additives for the processing and manufacturing of polymers, such as polyvinylchloride, polyurethane, polyolefins and is a specialty supplier of additives to the sealants, paint and coatings markets. Akcros delivers technical solutions from its manufacturing units in Europe, USA, India and China and has a proven track record of producing products of the highest quality, efficiency and reliability.
