KAP Industrial buys Safripol from Rockwood and Thebe for $ 300 mn

KAP Industrial Holdings has acquired Safripol, the South Africa-based manufacturer of polypropylene and high-density polyethylene, from Rockwood Private Equity, Thebe Investment Corporation and existing management for Rand 4.1 million (about $ 300 million). 

Established in 1972 as a joint venture between Hoechst and Sentrachem, Safripol was purchased in 1999 by Dow Chemicals and subsequently sold in 2006 to Rockwood, Thebe and certain members of the management team. Safripol manufactures polypropylene and high-density polyethylene, used to manufacture an extensive range of industrial and consumer plastic products.

KAP is invested in a number of industry-leading industrial businesses managed within two divisions: diversified logistics and diversified industrial. The acquisition of Safripol will establish a new diversified chemical division for KAP which will incorporate KAP’s existing Woodchem and Hosaf businesses.

“The acquisition of Safripol is complimentary to KAP’s existing operations. KAP has an exceptional management team and we always saw Safripol as an ideal fit for their business. We are very pleased to have concluded a deal with them,” said Andrew Dewar, CEO of Rockwood.