PE firm Livia Group acquires Proviron Basic Chemicals

The German private investment firm Livia Group has acquired phthalic anhydride maker Proviron Basic Chemicals (PBC), a part of the Belgium-based Proviron Holding, for an undisclosed amount.

Proviron Basic Chemicals is a leading player in the European phthalic anhydride market with a plant located close to the petrochemical triangle in the center of Europa. The company owns unique technological capabilities to produce phthalic anhydride and phthalate esters and is ranked amongst the top three players regarding non-captive capacities in Europe. PBC’s existing strong customer base and management provide an excellent basis for significant growth in volume, revenues and return. PBC will continue its activities on the Ostend site in Belgium.

The acquisition of Proviron Basic Chemicals will be the sixth transaction of Livia in 2016, after announcing the basic agreement with Kraft Heinz on taking over their Utrecht plant earlier this month.

“We strongly believe in the great potential of PBC and its workforce. Livia is going to build on the established strong position in the market by enhancing the sales efforts and taping into new markets. Moreover PBC is a highly fitting acquisition complementing Livia’s investments in the chemical industry, most notably AlzChem AG,” commented Prof Peter Low, founder and owner of Livia Group.

Speaking about the PBC divestment, Wim Michiels, CEO, Proviron Holding, said, “This divestment allows Proviron to focus more on its future-oriented niche-chemicals.”

Proviron, a privately owned global company, offers chemical solutions in fields like polymer additives (phthalate-free plasticisers), PLA compounds, functional chemicals (stabilisers and pharmaceutical intermediates), and aviation de-icing fluids, feed ingredients, microalgae and toll manufacturing.