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Brussels, Belgium / September 14 2016 – Allnex, a leading international supplier of resins backed by investor Advent International, today announced that Nuplex Industries, a global manufacturer of resins, and Allnex have now been brought together to form one company. The group, present on four continents and serving customers in over 100 countries, becomes the leading industrial coating resins company globally.
The company will operate under the name of Allnex and is today launching a new logo that is a symbolic representation of the combined strengths of Nuplex and Allnex. It will now draw on the expertise and scope of both Nuplex and Allnex, two companies that both have a history of commitment to innovation and engagement with customers, as well as complementary geographical footprints. They also share similar corporate values and a global outlook.
Miguel Mantas, the new CEO of Allnex, commented, ‘I am delighted that this business combination has taken place. With our comprehensive, state-of-the-art technology portfolio, our ability to provide clients with the right chemistry for their products is even more extensive than before. I am also looking forward to moving our corporate headquarters to Frankfurt. The decision to choose Frankfurt for the future company’s headquarters was taken with the intention of establishing a new location, symbolizing a fresh start for the company. Frankfurt offers excellent flight, rail and car connections. The city is located in the heart of Europe and Germany, the largest European economy and a key market for the company and for the coatings industry in general.’
The Chairman of the Allnex Advisory Committee, Rich Alexander, said, ‘I am particularly enthusiastic about the modernized branding and new logo of our company. It unites the visual identities of both companies and embodies our commitment to taking the best elements from both Allnex and Nuplex.’
Ron Ayles, a Managing Partner at Advent International and head of the firm’s global chemicals practice, said, ‘the combined company will be a strong global leader in industrial coating resins, with over 30 manufacturing sites and about two dozen research and technology support facilities. This puts us in an excellent position to consolidate current markets and develop new ones.’
Allnex, formerly Cytec Industries' Coating Resins business and acquired by Advent in 2013, is a leading global producer of coating resins and additives for architectural, industrial, protective, automotive and special purpose coatings and inks. Allnex is recognized as a specialty chemicals pioneer and offers an extensive range of products including innovative liquid resins and additives, radiation cured and powder coating resins & additives and cross linkers for use on wood, metal, plastic, and other surfaces.
About Advent International
Founded in 1984, Advent International is one of the largest and most experienced global private equity firms and a leading investor in the global Chemicals industry. Advent's investment philosophy is centred on supporting leading management teams and providing resources for further growth in order to execute on a mutually developed strategy and investment case. To date, Advent has raised cumulative capital of US$53 billion and has executed over 310 transactions including over 30 investments in the Chemicals industry. Advent has a strong track record of making significant and successful investments, with recent chemicals transactions including Allnex (formerly Cytec Industries' Coating Resins business), Oxea, Maxam, Viakem and Grupo Transmerquim. Advent also has extensive experience in conducting Public-to-Private transactions, with recent examples including Douglas, Mediq and Unit 4.
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