HIG Europe to acquire polyurethane systems business from Covestro.

HIG Capital, a global private equity investment firm, is set to acquire the European Polyurethane Systems business in a carve-out transaction from Covestro. Financial terms were not disclosed. The transaction is subject to clearing by the relevant antitrust authorities with closing anticipated for the second half of 2019. “The polyurethane systems business of Covestro is known for providing innovative solutions and market-leading services to clients across Europe. As an independent company, we will build on this position and will continue to strive for product excellence, flexibility and impeccable customer service. I look forward to working together with the Company’s experienced and successful management team,” Jörg Schottek, Polyurethane Systems Business CEO.