With 1.3 million tonnes of Oxo chemicals and derivatives each year, Oxea generated sales of around €1.5bn in 2012. The company was formed by merging two separate business units which Advent acquired in 2007 from Celanese and Degussa (now Evonik). Products from Oxea are used in coatings, lacquers, paints, lubricants, flavours and fragrances and produced for customers from the construction, automotive and pharmaceutical sector, as well as the electronics industry.
Ronald Ayles, managing director and head of Advent International’s chemical practice, said, “Oxea, its management team and workforce have done an excel-lent job in creating a highly competitive business. We are convinced that the strengths and objectives of OOC and Oxea are highly complementary and that both sides will benefit from the partnership. We wish Oxea all the best as it enters into a new phase of its corporate development.”
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