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Business

Allnex to acquire resins maker Nuplex

by Marc S. Reisch
July 18, 2016 | APPEARED IN VOLUME 94, ISSUE 29

Shareholders of the New Zealand-based coatings resins maker Nuplex have approved the firm’s acquisition by competitor Allnex, owned by private equity firm Advent International, for about $790 million. Advent bought the former Cytec Industries coatings resins business and launched it as Allnex in 2013. Nuplex brings resins operations acquired from AkzoNobel in 2005 and Bayer in 2011. The combined company will be a resins maker with about $2.5 billion in annual sales.

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