21st August 2018

IGM RESINS SOLD

Astorg and Arsenal Capital Partners has partnered with Astorg and IGM management, and signed a definitive agreement to acquire IGM Resins.The purchased firm is a global manufacturer of UV-curable materials, previously owned by 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. 

Headquartered in Waalwijk, the Netherlands, IGM offers a full platform of complementary UV curable material solutions (photoinitiators, acrylates, and additives) for the high growth UV coatings and inks market. It lays claim to 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.”

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.”

Astorg is a European private equity firm with total funds under management of over €4 billion. It seeks to partner with entrepreneurial management teams to acquire European companies and create value through the provision of strategic guidance, experienced governance and adequate capital.  

Arsenal Capital Partners is a private equity firm that specializes in investments in middle-market specialty industrials and healthcare business services companies. Since inception in 2000, it has raised institutional equity investment funds of approximately $3-billion. Arsenal invests in industry sectors in which the firm has significant prior knowledge and experience.

www.igmresins.com