Michelman (Cincinnati, Ohio) announced on July 8 the acquisiton of Recklinghausen, Germany-based Ecronova Polymer GmbH, a manufacturer of water-based polymers used in the production of paints and lacquers. The purchase includes all assets, technology and manufacturing facilities. The name Ecronova Polymer will continue to be used for business operations and all current Ecronova Polymer products will remain unchanged in name and formulation.
Ecronova Polymer was owned by the company’s managing directors, Peter Montag and Anton Solich, and funds managed by Aheim Captial GmbH (Starnberg, Germany), a private equity investment firm. Montag and Solich will continue as managing directors and will be joined by Jean-Marc Verhaeghe, currently Michelman’s managing director, EMEA. Verhaeghe will assume overall operational responsibilities. Ecronova Polymer’s customers are expected to see no interruption in their service and will continue to work with their current Ecronova contacts.
According to Steven Shifman, Michelman's president and CEO, “Ecronova Polymer manufactures exceptionally high-quality products that are complementary to the solutions we currently offer our paint and coatings customers. However, the addition of their product lines, their people, as well as their innovative manufacturing processes, gives us greater technical capabilities that will be strategically used beyond just our paint and coatings business. With this key acquisition, we have enhanced our ability to develop powerful new solutions, and more importantly, new opportunities, for all customers who are using or developing water-based additives and coatings.”
Ecronova Polymer’s lines of water-based polymers include styrene acrylics, pure acrylic emulsions, vinyl acetate copolymers and polyurethane dispersions. “Like us, Michelman offers a variety of well-known brands, but has also emphasized flexibility and development of customized solutions,” says Montag. “Bringing the two companies together is going to solidify our position as the company that is truly capable of helping our customers win and grow.”
Solich adds, “Together, we are able to provide our collective customers greater application expertise, and a much wider variety of products used in their formulations. We look forward to exploring the exciting capabilities made possible by this transaction."
With the acquisition, Michelman gains a physical presence in Germany and increases its European footprint. The company now has product-development and manufacturing facilities in the Belgium/Luxembourg region, Germany, the U.S. and Singapore, plus a new technical service center in Shanghai that serves China and the greater Asia-Pacific market.
Michelman is a global developer of water-based barrier and functional coatings for flexible film packaging, paperboard, and corrugated cartons; and water-based surface modifiers, additives and polymers for numerous industries including wood and floor care, industrial coatings, inks, fibers, composites and construction products. Michelman serves its multinational and regional customers with production facilities in the U.S., Europe and Singapore, and a worldwide network of highly trained field technical support personnel.
For more informations, contact Michelman, Tel.: 800-333-1723 (US & Canada), (513) 793-7766 (Worldwide) or visit the Web site: www.michelman.com.