Perstorp to be acquired by Petronas
Specialty chemicals company Perstorp Group is to be acquired by Petronas Chemicals Group Berhad (PCG).
PCG has announced that it has signed a Securities Purchase Agreement on 14 May 2022 to acquire the entire equity interest in Perstorp Holding AB. The agreement was signed with Financière Forêt S.à.r.l, a company under PAI Partners, a European private equity firm.
Jan Secher, President and CEO of Perstorp said, “We are excited to become part of the Petronas family. I see a strong commonality in values and priorities for how to take our respective businesses forward, meeting the challenges and opportunities of the future. By tapping into PCG’s strength and market leading position in the Asia Pacific region, we are confident that Perstorp can continue to develop into its next phase of growth. Being part of PCG means Perstorp gets the scale to increase the pace of innovation and accelerate our sustainable transformation, which is at the forefront of the chemical industry. PCG’s and Perstorp’s businesses complement each other very well.”
“Outstanding strategic fit”
“Perstorp is an outstanding strategic fit for PCG and enables us to participate in attractive end-markets such as paints and coatings, construction, plastic additives, personal care and food, feed & nutrition, paints and coatings that share a robust growth outlook. This acquisition will also provide us critical talent, know-how, technological platforms and proven customer channels to address the pressing needs of the market for more eco-friendly and sustainable solutions,” said PCG Managing Director and CEO, Ir. Mohd Yusri Mohamed Yusof.
