Lanxess, Advent launch new ‘Envalior’ joint venture

Calum MacLean. Photo Credit: Envalior

Material supplier Lanxess and Boston-based global private equity firm Advent International have partnered in a joint venture to found a new global engineering materials business.

Called Envalior, the business combines businesses from parts of Lanxess and DSM Engineering Materials, and is owned by Lanxess and Advent, with Advent owning at least 60 per cent of Envalior.

In a news release, Envalior officials said the new company already has a turnover of around 4 billion euros and a workforce of about 4,000 employees. “[We] will offer our customers a portfolio of leading product brands and recycled and bio-based materials, combined with deep application and materials expertise,” the release said.

The firm consists of three global divisions – Performance Materials, Specialty Materials, and Intermediates – and will serve numerous industries, including automotive, electronics and electrical, and consumer goods.

Industry veteran Calum MacLean will serve as the company’s CEO. He has more than 30 years of plastics and chemicals experience, most recently as CEO of British materials firm Synthomer plc. In the release, MacLean said that by combining two highly complementary businesses, Envalior “has created a true industry leader that will realize value and drive progress for our customers, our employees, our shareholders and society as a whole.”

The company’s name is designed to reflect a combination of characteristics that best summarizes its ambition, the release also said: En stands for engaging, enterprising, engineering, environment, and valior represents a value-driven and value-creating culture.

Envalior includes DSM sites in Geleen and Emmen, Netherlands; Shangyu and Jiangyin, China; Pune and Pantnagar, India; Genk, Belgium; Kaohsiung, Taiwan; and Evansville, Ind.