US private equity firm Ripplewood Holdings will pay E320m for the unit

US private equity firm Ripplewood Holdings will pay E320m for the unit

US private equity firm Ripplewood Holdings is to acquire the flame-retardant and plasticiser business of Akzo Nobel for E230m. Akzo’s phosphorous chemicals division has two plants at Bitterfeld, Germany, and Gallipolis Ferry, West Virginia, which manufacture organophosphorous flame-retardants, plasticisers and lubricants.

The business employs 280 staff worldwide, with around 88 employees located in Germany. Last year it had revenues of E187m. Ripplewood managing director Ian Snow said: “We are very pleased with the acquisition of Akzo Nobel's phosphorus chemicals business. This transaction will be our second in the specialty chemicals sector, following our exit late last year from a successful investment in Kraton Polymers. We look forward to achieving similar success with this business.”