Industry News

Dynea to Sell Prefere Resins, an EU Manufacturer of Phenolic Resins

Published on 2014-01-09. Author : SpecialChem

Dynea Chemicals Oy ("Dynea"), the leading global provider of adhesives and surface solutions, announces that it has agreed to sell Prefere Resins Company ("Prefere Resins") to a fund managed by Capiton AG and members of Prefere Resins' senior management team. Financial terms of the transaction were not disclosed.

The sale of Prefere Resins marks the final step in Dynea's strategy of delivering superior value for its shareholder, IK Funds which are advised by IK Investment Partners, a leading European private equity firm. The strategy has involved the sale of Dynea's 30 legal entities globally, through 11 separate transactions, since the beginning of 2012.

Prefere Resins is a European market leader in phenolic resins. Prefere Resins operates from seven production facilities in six countries (Germany, Finland, UK, France, Poland and Romania), employs 300 FTEs and has annual sales of approximately €220 million.

"The sale of Prefere Resins demonstrates Dynea's strong track record of creating exceptional value in its individual business activities," says Hans Pettersson, President and CEO of Dynea. "The transaction provides Prefere Resins and its employees with an excellent opportunity to develop as an independent company," he added. The sale is conditional upon normal regulatory approvals.

About Dynea

Dynea is an international provider of superior adhesion and surfacing solutions is owned by the IK Funds advised by IK Investment Partners, a leading European private equity company.

Source: Dynea

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