CVC Capital Partners Fund VI is taking over the Alpha Corporation of Collierville, Tennessee. A definitive agreement in this respect has been signed. The transaction includes AOC, LLC, the primary asset and wholly owned subsidiary of the Alpha Corporation. AOC, LLC, is a global producer of resin chemistries for composites and cast polymer applications.
The transaction is subject to customary regulatory approvals.CVC Capital Partners Fund VI is taking over the Alpha Corporation of Collierville, Tennessee. A definitive agreement in this respect has been signed. The transaction includes AOC, LLC, the primary asset and wholly owned subsidiary of the Alpha Corporation. AOC, LLC, is a global producer of resin chemistries for composites and cast polymer applications.#
Headquartered in Collierville, Tennessee, AOC manufactures polyester and vinyl ester resins, gel coats, colourant dispersions and specialty additives for customers manufacturing products used in the automotive, marine, corrosion, construction and infrastructure segments, among others. The company has production facilities in the US, Canada, Mexico, Europe and Asia.
On completion of the transaction, CVC plans to work closely with Aliancys (a manufacturer of quality resins headquartered in Schaffhausen, Switzerland and a CVC portfolio company and joint venture with Royal DSM) to create a global leader in the industry. Aliancys' products are sold to various composites end users in the automotive, building and construction, marine and relining/CIPP sectors.
Steven Buyse, partner at CVC, said: "AOC is an outstanding business and together with Aliancys, this will create a robust group of companies with a diverse product mix and wide geographic reach to serve our customers globally. We look forward to working with both AOC and Aliancys and continue to develop high performance composite resins."
Fred Norman, CEO of AOC, said: "We are excited about entering into the next chapter of AOC's growth with the support of CVC Capital Partners and Aliancys. AOC and Aliancys are highly complementary businesses and the combination of research and development processes, broad portfolios and operational know-how will lead to significant added value for our customers and for their end users."
Bert Bakker, CEO of Aliancys, said: "AOC's business culture is very compatible with that of Aliancys, as they share our commitment to innovation, continuous improvement and customer focus. This is a winning combination for the industry.” (SV)
Fibre2Fashion News Desk – India
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