Archroma
(Source: Pexels)
Archroma, a portfolio company of private investment firm SK Capital Partners entered into a definitive agreement to acquire the Textile Effects business from Huntsman Corp., The Woodlands, TX/USA. The transaction has an enterprise value of US$718 million, according to Huntsman. Closing of the transaction is subject to customary conditions and approvals and is expected to take place in the 1st half of 2023.
Since its formation in 2013, through a series of mergers & acquisitions, as well as internal investments in R&D, manufacturing and service capabilities, Archroma Management GmbH, Pratteln/Switzerland, has been building a comprehensive portfolio of solutions to serve the emerging needs of the textile industry. The combination with Huntsman Textile Effects, Singapore, and its rich historical roots of Huntsman and Ciba Specialties will create a technology company that will include Archroma’s legacy heritages of Sandoz, Hoechst, Clariant, BASF and Dohmen who have been at the cutting edge of the textile industry for decades, and together will continue to serve customers for years to come.Both Archroma and Huntsman Textile Effects are founding members of Sustainable Chemistry for the Textile Industry (SCTI), an alliance of leading chemical companies that strives to empower the textile and leather industries to apply sustainable, state-of-the-art chemistry solutions that protect factory workers, local communities, consumers and the environment.
»We at Archroma are so very excited to announce what we see as a merger of equals. With this agreement, two committed leaders in sustainable and innovative solutions unite to pave the way towards a more sustainable textile industry. Innovative and transformative leadership is not built overnight, and we are eager to work together with the people who made that happen at Huntsman Textile Effects.«
