Click here for printer friendly page

Dutch NIB Capital to acquire Belgian speciality chemicals firm for E115m

NIB Capital, the private equity arm of Dutch pension funds ABP and PGGM, has acquired a speciality chemicals business from Belgian UCB. The transaction has been valued at E115m.

The transaction is expected to be completed at the end of September when the business will be renamed Taminco. The current management team will continue to lead the company.

‘We could make good use of our knowledge of this chemicals niche in this transaction, which in terms of size and activity, fits perfectly in our buy-out portfolio' said Volkert Doeksen, managing partner and chief executive of NIB Capital. ‘We particularly welcome Taminco in our portfolio given its market leadership and entrepreneurial management.'

The acquisition is in line with NIB Capital's buy-out strategy, which focuses on investments in Benelux and Germany. The firm also co-invests in buy-out opportunities across Europe and in North America but commits 80 per cent of its E14.1bn under management to fund of funds.

Copyright © 2003 AltAssets