Arxada and Troy to create antimicrobials giant
Arxada, the former Lonza Specialty Ingredients (LSI), has agreed to merge with Troy Corporation in a move that will make a major force in antimicrobials. Private equity funds Bain Capital and Cinven, which bought LSI from Lonza in July, will be the majority owner, with Troy’s owners also investing. No further financial details were disclosed.
Arxada described the move as “a logical next step in Arxada’s strategy to strengthen its offering and enhance the capabilities of its Microbial Control Solutions (MCS) business”. It will create “a comprehensive and innovative offering in microbial control, enabling the delivery of new solutions and value-added services to customers”, the firm added. The merger also brings Arxada production sites in Newark, New Jersey; Horhausen, Germany; Moerdijk, Netherlands; and Kabinburi, Thailand.
Thus, said, CEO Marc Doyle (pictured), it “also fits with our strategy of expanding our geographic footprint and the scale and depth of our capabilities by bolstering our manufacturing capacity in MCS beyond North America into Europe and Asia”.
Troy is among the world’s largest players in industrial preservation, notably in the paints and coatings, wood protection and preservation, home and personal care, plastics and textiles, energy and metal working fluids fields. Among its key products is 3-iodo propynyl butyl carbamate, which Arxada does not manufacture