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Synthomer divests acrylate monomers business to Mutares
Synthomer has announced the divestment of its acrylate monomers business, marking a strategic move to simplify its portfolio and focus on speciality chemicals. The Czech-based business will transition to Mutares, a private equity firm specialising in company turnarounds.
Synthomer, a leading global supplier of high-performance polymers, has confirmed the divestment of its acrylate monomers business in the Czech Republic. The business, which operates under Synthomer a.s., will be acquired by Mutares, a Munich-based private equity company with expertise in transforming industrial businesses. This decision is part of Synthomer’s strategic shift towards a streamlined portfolio centred on speciality chemicals with higher margins and growth potential.
Acrylate Monomers, a key supplier of acrylic acid and related monomers to the European market, employs approximately 300 staff at its Sokolov manufacturing site. The site also contributes to Synthomer’s downstream operations by supplying acrylic monomers to Group companies and producing acrylic dispersions. Under the new ownership, these supply arrangements will remain intact.
Strategic portfolio simplification
The divestment reflects Synthomer’s strategy to exit highly cyclical and capital-intensive sectors. Acrylate Monomers was the last remaining upstream business in Synthomer’s portfolio and had been designated as non-core following a strategic review in October 2022.
Michael Willome, CEO of Synthomer, stated, “This announcement is another important step in delivering our strategy to simplify our business and sharpen our focus on higher-margin, higher-growth speciality chemicals markets where we have strong and sustainable leadership positions.” He expressed confidence in Mutares’ ability to steer Acrylate Monomers through its next phase of development.
Financial dynamics and transaction details
In 2025, Acrylate Monomers reported external sales of EUR 68 million but faced an adjusted EBITDA loss of EUR 10 million. Improved trading conditions in early 2026, influenced by short-term market fluctuations and cost reductions, led the business to a break-even point. Synthomer noted that Acrylate Monomers requires approximately EUR 5 million annually in capital expenditure, highlighting its capital-intensive nature.
The transaction, expected to close at the end of Q3 2026, includes a cash generation sharing arrangement of up to EUR 12 million over three years, with no initial payment at closing. To ensure operational continuity, the divested company will receive EUR 5 million in cash for working capital requirements.
