CLEVELAND – OM Group, Inc., Cleveland, announced that it has purchased Rahu Catalytics Limited, the developer of a unique iron ligand-based chemistry for use in environmentally friendly coatings, composites and inks from Unilever Ventures and Management. The transaction includes all related intellectual property rights and master patents, as well as all manufacturing and supply agreements. Terms of the transaction were not disclosed.
Since its founding in 2006, Rahu Catalytics has focused on the need for solutions that incorporate more renewable materials and deliver performance at lower energy, water and waste costs in the coatings industry. Since early 2009, the company has operated under an exclusive commercial agreement with OM Group with regards to its Borchi® OXY-Coat product line.
Formed in 2002, Unilever Ventures is the European venture-capital arm of Unilever.