GEO Specialty Chemicals, a subsidiary of CPS Performance Materials, announced that it has sold its Di-Methylolpropionic Acid (DMPA®) business to Perstorp Holding AB. CPS is a portfolio company of Arsenal Capital Partners. Grace Matthews served as financial advisor to CPS Performance Materials and Arsenal Capital Partners.
Di-Methylolpropionic Acid is an additive that enables a technology shift from solvent to waterborne formulations within the polyurethane dispersion and alkyd markets. The acquisition allows Perstorp to grow its position as a sustainable specialty solutions provider to these markets.
“Our strategy is to be the sustainable solutions provider within our focus segments, of which resins and coatings is one. Additives for waterborne resins and coatings technologies are a key area for future growth, and we see great potential in the market for Bis-MPA™ together with the acquired DMPA®. This acquisition will both allow further development of our offering and enable long term investments to safeguard future availability,” says Jan Secher, President and CEO of Perstorp Group.
“We are excited to have found a partner in Perstorp who is committed to supporting the growing demand for DMPA. CPS will continue to focus on building our core businesses and this transaction enables us to streamline our portfolio as we invest in a number of capacity and product expansions throughout the company,” says Jeremy Steinfink, CEO of CPS Performance Materials.
ABOUT CPS PERFORMANCE MATERIALS
CPS Performance Materials is a diversified specialty chemicals manufacturer of coatings additives, pharmaceutical intermediates and APIs, chemical illumination solutions, performance polymers, and fine chemicals and intermediates. For more information visit www.cpsperformancematerials.com.
ABOUT PERSTORP HOLDING AB
Perstorp, headquartered in Sweden, is a world leader in several specialty chemicals market segments including resins and coatings, engineered fluids and animal nutrition. Perstorp has over 1,400 employees and has manufacturing units in Europe, Asia, and North America. For more information, visit www.perstorp.com.
through its subsidiary, GEO Specialty Chemicals, has sold its DMPA business to
Grace Matthews CPS & Arsenal Capital Partners