Private equity firm AI Partners (PAI) is to sell Perstorp Holding AB, a sustainability-driven global specialty chemicals company, to Petronas Chemicals Group Berhad (PCG), for EUR 2.3bn on a cash and debt free basis.
Established in Sweden more than 141 years ago, Perstorp is a specialty chemicals player that develops sustainable solutions for the resins and coatings, engineered fluids, and animal nutrition end-markets. With seven state-of-the-art manufacturing sites and three research and development centres worldwide, Perstorp is present in 26 countries, including the US, in Europe and across the Asia Pacific. It has approximately 1,500 employees and serves more than 2,600 customers globally, with its 130 product offerings across 30 product groups.
The completion of the acquisition is subject to relevant regulatory and shareholders’ approvals.
Read more: Private Equity Wire
