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People & Business :: Companies

Evonik to Sell Its Global Colorants Business to Arsenal Capital Partners

3:10 PM MDT | March 14, 2012 | Sotirios Frantzanas

Evonik Industries says it has agreed to sell its global colorants business to private equity firm Arsenal Capital Partners (New York).  The transaction is expected to close in April 2012, subject to supervisory board and regulatory approvals, Evonik says. Financial terms of the agreement were not disclosed. Evonik's colorants business develops, produces, and markets colorant systems for decorative coatings. The business, which employs more than 300 people, generated revenues of about €130 million ($171 million) in 2011. Its...

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