Röhm (Darmstadt, Germany) announced that its Acrylic Products business unit and SABIC’s (Riyadh, Saudi Arabia) Functional Forms business unit are going to be merged to form a new firm called Polyvantis.
Polyvantis will be a new global player in the acrylics and polycarbonate film and sheet industry, formed as a result of the merger of Röhm’s Acrylic Products business unit and SABIC’s Functional Forms business. Polyvantis will offer products such as films, sheets, pipes & rods and will serve a multitude of segments, including building & construction, transportation & aviation, electrical & electronics, automotive and home & garden. Polyvantis’ global organization with sales of around $700 million will have a workforce of about 1,500 employees and 16 production sites across the Americas, Europe, Asia, and Africa.
In December 2022, Röhm signed an agreement to acquire SABIC’s Functional Forms Division for polycarbonate film and sheet products globally. The carve-out of Acrylic Products business from Röhm and of Functional Forms business from SABIC, and closing of the deal with SABIC is expected around Q2‘24, subject to obtaining customary regulatory approvals.
“For the first time, customers will be able to obtain superior products, including PLEXIGLAS/ACRYLITE, LEXAN films and sheets from a single source. This merger will allow the two businesses to achieve more together than they could ever do alone, and we are committed to accelerate growth further. POLYVANTIS will combine the innovative strength and technological expertise of both business units and create holistic solutions for customers worldwide,” says Ronald Ayles, Managing Partner at the financial sponsor Advent International.
Long-term license agreements have been concluded with both Röhm and SABIC for the respective brands in their segment. The PLEXIGLAS/ACRYLITE molding compounds business will remain at Röhm as the polycarbonate LEXAN resin business will remain with SABIC.