BASEL, Switzerland/FLORHAM PARK, NJ – Specialty chemicals provider Arxada and Troy Corp., a leader in microbial control solutions and performance additives, announced they have entered into an agreement to combine the two companies. Financial details of the deal have not been disclosed.
The agreement represents the first strategic deal by Arxada, formerly known as Lonza Specialty Ingredients or LSI and owned by private equity funds Bain Capital and Cinven, since the purchase from Lonza Group AG in July 2021. As part of the deal structure, Troy’s owners will invest in the combined company.