ICIG acquires three more

International Chemical Investors (ICIG) has made a firm and binding offer to acquire sodium metal specialist Métaux Spéciaux (MSSA) from Nippon Soda. It has also completed the acquisitions of Inprotec from Paragon Partners and its minority co-shareholders, and of Benvic Group from Investindustrial Growth.

MSSA has facilities in Pomblière and La Rochelle, France, and a terminal in Pasadena, Texas. It is the largest - and only non-Chinese - producer of purified sodium metal, which goes into specialised pharmaceutical and industrial applications. It also offers special alkali metals, such as potassium and lithium, and associated chemicals.

ICIG described the buy, which, if completed would be subject to consultation with the French employee representative body and approval from the German, Spanish and Portuguese competition authorities, as a further step in developing its chlor-alkali chemicals portfolio. MSSA is expected to continue to market its products and services under its own brand in collaboration with ICIG’s Vynova Group.

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.

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. The deal expected to close in November, subject to customary antitrust clearance.

Dr Achim Riemann, director of ICIG, said that the deal “aligns with our long-term strategy to expand our offering in innovative, first-class contract manufacturing services.” As owner, he added, ICIG plans “to grow the reach to further industries and geographies”.

Former Solvay subsidiary Benvic makes highly PVC powders and compounds for multiple applications from 11 sites in France, Italy, Spain, Poland, the UK and the US. Most had been acquired while it was owned by Investindustrial. ICIG had agreed to buy it in August and it has since received all of the necessary approvals.