LANXESS and Advent International completed the acquisition of the engineering materials business of Royal DSM for €3.7bn.

LANXESS, a specialty chemicals company, and Advent International, a private equity investor, completed the acquisition of the engineering materials business of Royal DSM, a corporation active in the fields of health, nutrition and materials, for €3.7bn ($4bn). “LANXESS will once again become significantly less dependent on economic fluctuations. In addition, we as LANXESS will strengthen our balance sheet with the proceeds from the transaction and gain new scope for the further development of our Group. With the new joint venture, we are forging a strong global player in the field of high-performance polymers. The portfolios, value chains and global positioning of the two businesses complement each other perfectly. With its innovative products, the joint venture will be able to play a key role in shaping future developments - for example in the field of electromobility. In Advent, we have a strong and reliable partner with profound experience in the chemical industry and our customer industries," Matthias Zachert, LANXESS CEO.