Polynt and Reichhold to Combine

Durham, North Carolina, United States and Scanzorosciate, Bergamo, Italy (May 11, 2016) – Polynt Group (“Polynt”) and Reichhold Group (“Reichhold”) today announced a definitive agreement to effect the combination of the two businesses. The business combination is expected to create a leading global, vertically-integrated manufacturer of resins for composites and coatings and of other specialized chemicals, including intermediates, plasticizers, additives and compounds. Currently, Polynt is wholly-owned by funds managed by Investindustrial (“Investindustrial”), and Reichhold is owned by a group of investors, including funds managed by Black Diamond Capital Management, LLC (“Black Diamond”). Black Diamond and Investindustrial intend to become equal investors and, collectively, majority stakeholders in the combined business. The transaction is subject to requisite regulatory approvals and customary closing conditions, and is expected to be completed in the second half of 2016.

“This compelling deal is expected to result in significant synergy opportunities and will enable our combined businesses to be more competitive, offer better services and more innovative solutions to our customers. It will allow us to respond more effectively to evolving industry dynamics and customer needs. With increased scale and product diversity, we can deploy a larger portfolio of products and provide more comprehensive offerings to benefit our collective customers. This combination brings together two strong businesses and positions us to succeed in a dynamic and highly competitive global marketplace,” said John S. Gaither, President and CEO, Reichhold.

“Our aim to better serve our stakeholders and customers will be further strengthened by the combination of two industry leaders, historically devoted to innovation and customer orientation. Our people are always committed to improve their performance and knowledge for the benefit and growth of our industry. We welcome the opportunity to leverage the potential of the new group,” adds Rosario Valido, President and CEO of Polynt.

About Polynt

Founded in 1955, Polynt Group is one of the world’s largest manufacturers and suppliers of specialties, intermediates and composites for the industrial, transportation, building and construction, marine, medical, consumer, and food additive markets. Polynt has manufacturing operations throughout North and South America, Europe, and Asia.

About Reichhold

Founded in 1927, Reichhold is one of the world’s largest manufacturers of unsaturated polyester resins and a leading supplier of coating resins for the industrial, transportation, building and construction, marine, consumer and graphic arts markets. Reichhold has manufacturing operations throughout North and South America, the Middle East, Europe and Asia.

Advisors

Skadden, Arps, Slate, Meagher & Flom LLP and Schulte Roth & Zabel LLP are acting as legal advisors to Reichhold and Chiomenti Studio Legale, DLA Piper LLP and Simpson Thacher & Bartlett LLP are acting as Polynt’s legal advisors. J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are serving as financial advisors to Polynt.

About Black Diamond

Black Diamond is a leading alternative asset management firm that oversees more than $7.5 billion in assets. The firm invests in performing, stressed and distressed credit opportunities across three complementary investment platforms: Distressed/Private Equity Funds, a Hedge Fund and CLOs and other structured vehicles. Black Diamond is currently pursuing control distressed/private equity investments for its fourth private equity fund. Their distressed/private equity funds focus specifically on middle market companies with market leadership positions within their sectors. Founded in 1995, Black Diamond employs investment professionals across offices in Greenwich, CT, Lake Forest, IL, London, England and St. Thomas, USVI.

About Investindustrial

Investindustrial is a leading European group of independently managed investment, holding and advisory companies with €5.6 billion of raised fund capital, which provides industrial solutions and capital to mid-market companies in Europe. Its mission is to actively contribute to the development of the companies in which it invests, by creating growth opportunities and offering global solutions through an entrepreneurial pan-European vision. Investindustrial has a history of more than 25 years of successfully partnering with companies in Europe. Certain companies of the Investindustrial group are authorized by, and subject to regulatory supervision of the FCA in the United Kingdom, the CSSF in Luxembourg and the FINMA in Switzerland. Additional information is available at www.investindustrial.com.


Contact: simona.grilli@polynt.com
Phone: 035 652 231

  • POLYNT, FROM 60 YEARS IN YOUR WORLD

  • THERE IS A CHEMICAL THAT GROWS

  • THERE IS PASSION, EXPERTISE, TECHNOLOGY

  • THERE IS A BIG GLOBAL COMPANY

Polynt is responsible for more than 60 years of production, sales, research and development of organic anhydrides and their derivatives.

The membership of Polynt to the major area of chemical intermediates enables the company a central placement in the scale that goes from the petroleum refining to the production, sale and distribution of the finished products on the market.

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