Polynt/PCCR USA to acquire CCP Composites

Italy-based Polynt Group will, through subsidiary PCCR USA, acquire U.S.-based CCP Composites from TOTAL S.A. in an effort to help Polynt enhance its unsaturated polyester resins business.

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The Polynt Group (Bergamo, Italy), a producer of polymer intermediates and specialties, and an Investindustrial (Luxembourg) portfolio company, on July 9 announced that its subsidiary, PCCR USA (Carpentersville, Ill., USA) plans to acquire CCP Composites (N. Kansas City, Mo., USA) from TOTAL S.A., the French integrated oil and gas company. Through the combination, Polynt aims to create a leading integrated specialty chemicals player specialised in UPR (unsaturated polyester resins).

Polynt Group is an international company, operating on a global scale and has the stated intention of implementing an ambitious strategy of international growth by consolidating its presence in Europe and expanding its global presence through the development of activities in areas of the world where it is not currently in a leadership position.

PCCR USA, a wholly owned subsidiary of the Polynt Group, has submitted a binding offer for the purchase of CCP Composites from TOTAL S.A.

Investindustrial’s goals, as the ultimately controlling shareholder, are to expand the overall business of the group, and the newly acquired business, by contributing its know-how in the specialty chemical sector, as well as funds for investment. The proposed acquisition by PCCR Inc. includes specific assurances for the employees of CCP Composites including the maintenance of employment and existing benefits.

“The combination between PCCR Inc. and CCP Composites is an important step in the international development and expansion of the Polynt Group and we are convinced that this transaction will enable us to reinforce our innovative skills and to respond to our clients’ needs more effectively,” says Rosario Valido, CEO of PCCR Inc. and Polynt. 

Polynt Group specializes in the production of intermediate polymers and specialties. The group has 1,500 employees located in 13 production sites located in Europe, the USA and China. The UPR sector is its largest area for potential growth. PCCR Inc. is also the exclusive agent on behalf of the Polynt Group in NAFTA, for the import and distribution of intermediate plasticizers and specialty additives.

Investindustrial is a European investment group with approximately €3.1 billion of assets under management, which provides industrial solutions and capital to mid-market companies in Europe.

 

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