FAIRLAWN, OH -- OMNOVA Solutions has completed its acquisition of specialty chemicals manufacturer Eliokem International (ELIOKEM) from AXA Private Equity.
While 75 percent of ELIOKEM's sales are in product markets that OMNOVA has not previously served, ELIOKEM's business model – including manufacturing process, key raw materials and go-to-market approach – is very similar to OMNOVA's. Focusing on the same basic emulsion polymerization process, the acquisition adds a number of new acrylic, styrene butadiene and nitrile chemistries and applications, including coating resins, elastomeric modifiers, antioxidants, specialty rubbers and reinforcing resins, as well as complementary products for oil field and specialty latex applications.
Both OMNOVA and ELIOKEM have strong polymer development capabilities and a talented team of scientists and technical service specialists which, in combination, will accelerate development of a broader range of solutions for new and existing customers. The combined Company will have R&D capabilities on three continents.