Evonik has concluded the sale of its Jayhawk site in Galena (Kansas, USA), taking the next step on the road to a consistent focus on specialty chemicals. Funds advised by Permira, an international investment company, acquired the site at a price in the high double-digit million dollar range.
Essen/Germany — The transaction was announced in late August, and the closing took place November 1. Antitrust authorities in multiple countries had previously granted their unconditional approval.
The plant makes precursors for agricultural chemicals that do not fall into what the company has defined as its growth businesses. The Jayhawk site, the company it housed, and its roughly 120 employees were sold as part of a share deal. The manufacturer wants to continue its profitable growth in the specialty chemicals sector, explains Christian Kullmann, Chairman of the Executive Board of Evonik. That included selling off companies or sites that could have a better future with different owners.
Activities at Jayhawk were part of the company’s Performance Materials segment and are now owned by funds advised by Permira. The globally active investment company was founded in 1985 and advises funds with a total volume of approximately $ 36 billion.