Industry News

Astorg to Acquire IGM Resins, a Manufacturer of UV Curable Materials

Published on 2018-05-08. Author : SpecialChem

TAGS:  UV/EB Cure Adhesives    

Astorg has partnered with management and signed a definitive agreement to acquire IGM Resins from Arsenal. The transaction is expected to close in the second quarter of 2018 and is subject to customary closing conditions and regulatory approvals. Financial terms of the transaction were not disclosed.

Transaction Expected to Close in Second Quarter 2018

Astorg Acquires IGM Resins
Astorg to Purchase IGM Resins from Arsenal Capital Partners
Headquartered in Waalwijk, the Netherlands, IGM is one of the leading independent global manufacturers and innovators of high-value, specialty photoinitiators. The Company offers a full platform of complementary UV curable material solutions (photoinitiators, acrylates, and additives) for the high growth UV coatings and inks market.

IGM serves a diverse set of attractive, high-growth end-markets with particular strength in graphic arts (inkjet / 3D printing, printings inks for low-migration food packaging), electronics, optical coatings, and adhesives.

Edward Frindt, CEO of IGM, said, “We are pleased that Astorg has recognized IGM’s value creation strategy and look forward to partnering with them to continue our focus on providing our customers new products and technologies across the product portfolio.

Astorg has significant experience in the specialty chemical sector and a broad and experienced team, which will ensure a seamless transition.

Establishing a Unique Position in UV Curable Materials

Nicolas Marien, Director at Astorg, commented, “IGM has established a truly unique position in the UV curable materials space thanks to its strong focus on innovation and unrivalled customer intimacy.”

We have been impressed with what has been achieved by the brilliant and dedicated management team, enabling the company to grow significantly over the past few years. We are glad to accompany IGM during the next phase of its ambitious development plan through the provision of adequate capital resources and enhanced M&A capabilities.

Sal Gagliardo, an Industry & Operations Partner of Arsenal, said, “We are proud of the transformation of IGM from a specialty chemicals distribution company to a leading global UV-cure technology provider. During our partnership with the management team, we completed four strategic acquisitions and executed an aggressive organic growth strategy.”

Through these initiatives, the Company has become the leading global producer of photoinitiators with the most comprehensive breadth of technologies serving high growth UV cure applications.”

Moelis & Company LLC acted as exclusive financial advisor, and Jones Day acted as legal advisor to Arsenal and IGM. Houlihan Lokey and Emendo Capital acted as financial advisors, and Paul Hastings LLP and Dechert LLP acted as legal advisors, to Astorg.

Products from IGM Resins

Source: Arsenal Capital Partners
Omya Calcium Carbonates
Naphthenic Oils For Better Adhesion
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