Serafin Group completed the acquisition of European polycarbonate sheets business of Covestro.

Serafin Group, a private equity firm, completed the acquisition of European polycarbonate sheets business, which comprises manufacturing units in Belgium and Italy, of Covestro, a producer of specialty chemicals for heat insulation foams and transparent polycarbonate plastics. Financial terms were not disclosed. Covestro has decided that the sheets business no longer fits in the strategy of its Polycarbonates segment in the long-run.