Radici sells two businesses

Italy’s RadiciGroup has signed a definitive agreement to sell its Specialty Chemicals and High Performance Polymers business areas to an affiliate of Dallas-based private equity firm Lone Star Funds. Terms were not disclosed and the deal should close in 2H, subject to customary closing conditions and regulatory approvals.

Lone Star CEO Donald Quintin said that the acquisition “is highly complementary to Lone Star’s portfolio of specialty chemicals and manufacturing businesses and aligns well with our strategy of investing in industry leaders with strong growth potential”. RadiciGroup will retain the Advanced Textiles Solutions business area, a specialist in polyamides.

The Specialty Chemicals business area makes chemical products and intermediates related to polyamides, notably adipic acid, hexamethylendiamine, nitric acid and KA oil, as well as esters for biodegradable solvents, paint removers, cosmetics, detergents, coatings, plasticisers, chemical intermediates and specialised polyamides. These are mostly marketed under the RadiChem brand.