ICIG acquires Inprotec
International Chemical Investors Group (ICIG), the owner of WeylChem and various other chemical operations, has agreed to acquire Inprotec from Paragon Partners and its minority co-shareholders. The transaction is expected to close in November, subject to customary antitrust clearance.
Inprotec is a contract manufacturer for industrial drying and granulation services using fluidised-bed spray granulation, coating, matrix encapsulation and spray drying technologies. It is active in the consumer goods, animal feed, cosmetics and plastic additives sectors, employing about 270 at two sites in Heitersheim, Germany (pictured).
“The acquisition of Inprotec aligns with our long-term strategy to expand our offering in innovative, first-class contract manufacturing services,” adds Dr Achim Riemann, director of ICIG. As owner, he added, ICIG plans “to grow the reach to further industries and geographies”.
Since buying the majority stake in Inprotec in 2018, Munich-base private equity firm Paragon had invested more than €20 million into expanding production facilities. Inprotec grew profitably in that time, with a high double-digit CAGR.