Advent: Cytec Industries Coating Resins Business Becomes Independent
The coating resins business that was formerly part of Cytec Industries Inc. has become an independent company with the completion of the previously announced sale from Cytec to funds affiliated with Advent International, a private equity firm. The coating resins business, which will adopt a new brand name in the coming months, is a global producers of coating resins with a broad product portfolio.
The new company is performing well. It is one of the largest producers in a USD 30 billion global market that is growing strongly, as end users seek cost-efficient and environmentally friendly technologies for their coating processes and individual applications. Advent and the new company see many opportunities for further development.
The coating resins business is headquartered in Brussels, Belgium and has operations throughout Europe, the United States, and Asia. 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.
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