Solenis to Acquire Nopco Holding
Solenis has agreed to buy Nopco Holding, a Norwegian producer of specialty chemicals for the pulp and paper industry. The acquisition is Solenis’ fourth this year in the pulp and paper segment, following that of Australia’s Nuplex Pulp & Paper in June, and Dutch companies Lostris International and Wester Blend in April.
Nopco produces defoamers, collecting agents, deposit control, lubricants and insolubilizers for the European pulp and paper, industrial and recycling markets. Its antifoam and de-inking products complement Solenis’ pulp and paper portfolio.
John Panichella, president and CEO of Solenis, said the acquisition was a unique opportunity to combine Nopco’s cutting edge technologies with Solenis’ strong global channel to market. Headquartered in Drammen, Nopco has production sites in Norway, Spain and Finland. Total sales are more than 500 million Norwegian kroner, about €54 million, mainly in Europe.
The transaction is expected to close in the fourth quarter of 2016, following regulatory approval in Germany. Financial terms were not disclosed.
