PCG completes acquisition of Perstorp
Perstorp has announced that it has been acquired by Petronas Chemicals Group Berhad (PCG), integrated chemicals provider from Malaysia and part of Petronas Group, on 11 October 2022.
In May this year, PCG signed a Securities Purchase Agreement with Financière Forêt S.à.r.l, a company under PAI Partners, a European private equity firm, to acquire the entire equity interest in Perstorp. With the completion of the acquisition, Perstorp is now PCG’s wholly-owned subsidiary.
Expansion of Perstorp´s global presence
Moving forward post-acquisition, PCG intends to continue preserving and growing the value of Perstorp, as the next few years will be a crucial chapter for both companies. Among the major development plans include the expansion of Perstorp´s global presence by strengthening its position in the Asia Pacific markets through PCG’s industrial know-how and tapping into its substantial customer base.
“This day marks a new beginning and exciting future for Perstorp as part of the PCG family. We are thrilled to explore the opportunities that can be unlocked by working closely with PCG. This will accelerate the next phase of growth and further strengthen us as a leading specialty chemicals company. Perstorp and PCG form a stronger business together,” said Perstorp’s President and CEO Jan Secher.
