Now a global composite resins and coatings producer , Polynt-Reichold was created in May 2017 from merging Polynt, owned by Italian buyout fund Investindustrial, with Reichhold, owned by US asset management firm Black Diamond Capital Management. The company is currently equally owned by the two private equity owners.

Black Diamond, through its portfolio company Speciality Chemicals International, has now agreed to buy all of Investindustrial’s shares for roughly €1.3 billion, including the refinancing of existing debt. Investindustrial said the price agreed is one of Europe’s largest sponsor exits so far this year.

“We are extremely pleased with what management has been able to achieve with Polynt-Reichhold thus far and are looking forward to supporting them for the next phase of growth,” said Steve Deckoff, Black Diamond’s managing principal.

Generating €2 billion in annual sales, Polynt-Reichhold has two regional centers located in Scanzorosciate, Italy (Polynt’s historical headquarters) and in Carpentersville, Illinois, USA. The group operates 36 manufacturing facilities worldwide and several R&D centers, with a total workforce of approximately 3,100 employees.

Author: Elaine Burridge, Freelance Journalist