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Business

Eliokem gets a new owner

September 18, 2006 | APPEARED IN VOLUME 84, ISSUE 38

Littlejohn & Co., a U.S. private equity firm, is selling the French specialty chemical maker Eliokem to AXA Private Equity, an arm of the French finance firm AXA, for about $165 million. Littlejohn acquired Eliokem from Goodyear Tire & Rubber in 2001 for an undisclosed sum. Eliokem, which makes coatings resins, elastomer modifiers, and antioxidants, has seen sales grow from $120 million in 2000 to almost $190 million last year.

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