MacDermid Enthone Closes Coventya Acquisition
Coventya joins the MacDermid Enthone Industrial Solutions business within Industrial and Specialty segment.
Element Solutions Inc (Waterbury, Conn.), a global and diversified specialty chemicals company, has announced that it has closed its previously announced acquisition of Coventya Holding SAS (Brooklyn Heights, Ohio), a global provider of specialty chemicals for the surface finishing industry. Coventya will join the MacDermid Enthone Industrial Solutions business within ESI’s Industrial & Specialty segment.
Coventya operates in 60 countries on five continents. The business has manufacturing sites in Europe, Asia and the Americas. Coventya’s products serve customers worldwide across a diverse set of end-markets including automotive, fashion, construction, electronic, consumer goods, energy, aerospace and defense.
Ben Gliklich, Chief Executive Officer of Element Solutions Inc., says, “Coventya is an excellent fit for our organization. It brings a long, successful history and tradition of creating value for plating and finishing customers with innovative and high-quality technical solutions. Not only are their technologies complementary to ours, but we also share similar values based on innovation, exceptional service and a people-centric, customer-focused culture. This acquisition will extend our capabilities and enable us to support further growth with existing and new customers. In addition, through this transaction, we acquire extraordinary talent which we are excited to welcome into our organization.”
Richard Lynch, Senior Vice President of MacDermid Enthone Industrial Solutions, adds, “I am eager to bring together the capabilities of these great companies with strong legacies, leading technology, and outstanding talent. We believe this combination will dramatically enhance the value we deliver to our customers and stakeholders through our expanded geographical resources and sustainable technology portfolio as well as the strong relationships both organizations have fostered in our markets. The acquisition of Coventya is a pivotal event within the industry and establishes us as a global leader in the plating and surface finishing market.”
MacDermid Enthone Industrial Solutions states that the acquisition is strategic to its “continuing investment in technology, innovation, and talent” and that the company “remains focused on developing and providing the highest performing sustainable solutions for surface finishing applications in markets such as automotive, construction, industrial, consumer goods and electronics.”
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