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Home  > Markets & companies  > Raw materials market  > Advent buys resins business of Cytec

Saturday, 21 September 2019
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Markets & companies, Raw materials market

Advent buys resins business of Cytec

Wednesday, 10 October 2012

Cytec Industries Inc. will sell its coating resins business to buyout shop Advent International for USD 1.15 billion.

Advent and Cytec estimate that the coating resins industry represents a USD 30 billion market worldwide. Source: Sulamith - Fotolia.com

Advent and Cytec estimate that the coating resins industry represents a USD 30 billion market worldwide. Source: Sulamith - Fotolia.com

Cytec’s Coating Resins business is one of the leading global producers of coating resins. The group is headquartered in Brussels, Belgium and has operations throughout Europe, the United States, and Asia. It generated approximately USD 1.6 billion of revenue in 2011. It develops, produces and sells synthetic resins used for the production of paints and coatings as well as printing inks. The portfolio also includes crosslinkers and additives. The deal is expected to close during the first quarter of 2013.

Deepen penetration in emerging markets

"We are pleased to be able to invest in a company that has a well-established leadership position in a growing market with a strong technology platform,” said Ronald Ayles, Managing Director and head of Advent’s chemicals practice. "We see several ways to help the business focus on its core competencies, expand its product offering and geographic footprint, and grow its top and bottom lines. There are many avenues of growth and we’re looking forward to working with the management team to support the business on its next stage of development.” Both companies estimate that the coating resins industry represents a USD 30 billion market worldwide that is growing.

Once the transaction has been completed, Advent plans to work closely with the leadership team to build on the business’s already strong positions and deepen its penetration in emerging markets such as Asia.

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