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Change of owner at Polynt-Reichhold

Black Diamond Capital Management is to become the controlling shareholder of the Polynt-Reichhold group, after investment group Investindustrial agreed to sell its stake for €1.3 billion. Affiliates of JP Morgan and Apollo Capital Management have provided unspecified equity commitments towards the deal, which should close within six months.

Black Diamond and Investindustrial became partners in Polynt-Reichhold after the two companies merged in May 2017. “In the years following the merger, the combined company’s performance has substantially improved,” claimed Investindustrial.

ESIM sells the ‘IM’ to Vertellus

Vertellus has signed a definitive agreement to acquire IM Chemicals, ESIM Chemicals’ intermediates and specialities division, subject to customary regulatory approvals. Terms were not disclosed.

CEO John Van Hulle described the deal as “directly in line with Vertellus’ strategy to become a leading global provider of specialty chemicals and solutions through both internal growth and acquisitions of complementary customer-focused businesses”.

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