Clariant completes sale of its healthcare packaging business

Swiss materials and specialty chemicals company Clariant AG has completed the sale of its healthcare packaging business to New York-based private equity firm Arsenal Capital Partners.

The company will be rebranded as Airnov Healthcare Packaging.

Also, Matthias Brommer will become the new president and managing director of Airnov. For the previous eight years he has served with Clariant and since 2015, has headed the business under Clariant’s ownership.

The sale of the health care business was first announced in July 2019.

“The divestment of the healthcare packaging business is the first step of our announced strategy to become a more focused and innovative specialty chemical company,” Clariant executive chairman Hariolf Kottmann said in an Oct. 31 statement.

The healthcare packaging business offers products used to protect pharmaceutical products from moisture and oxygen, including customizable, high-quality drop-in products (canisters and packets), integrated desiccant systems, and specially designed plastic bottles containing oxygen barrier materials.

The business unit – which generated sales of around 135 million Swiss francs in 2018 – has manufacturing facilities in the U.S., France, China and India, and employs approximately 600 employees.