JACKSONVILLE, FL - Arizona Chemical has reached an agreement to purchase Abieta Chemie, a European rosin upgrading company, from private funds managed by AUCTUS Management GmbH&CoKG equity firm. The deal is expected to close after regulatory clearances have been completed. The terms of the purchase agreement and the amount of the transaction have not been disclosed at this time.
“With this acquisition, Arizona Chemical will increase its ability to upgrade rosin for disproportionated rosin emulsifiers for rubber polymerization and continue to grow in the end segments where growth is attractive. These include tires and rubber, areas into which Arizona has grown in recent years through its other resin products,” said Juhani Tuovinen, Vice President and Managing Director-Europe.
Abieta has one manufacturing operation, which is located in Gersthofen, Germany, near Munich. The plant has 41 employees and has been in operation since 1958. The company manufactures disproportionated rosin and soaps that are used in the polymerization of synthetic rubber for tires, adhesives, pigments for offset printing, marine paints, metalworking aids, or molded plastic parts for automobiles, kitchen appliances and toys.