Advent International Acquires Cytec Industries’ Coating Resins Business
Advent International, a global private equity firm, acquires the Coating Resins business of Cytec Industries Inc., Woodland Park, New Jersey, USA, for USD 1.15 billion. The transaction, subject to regulatory approval and other customary closing conditions, is expected to be completed in Q1 2013.
Cytec’s Coating Resins business is one of the leading global producers of coating resins with a broad product portfolio and leading market and technology positions. 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.
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