BASF Acquires Novolyte Technologies

BASF says it has acquired Novolyte Technologies (Cleveland, OH), a manufacturer of electrolyte formulations for lithium-ion batteries, as well as specialty chemicals for several key market segments, from private equity firm Arsenal Capital Partners (New York). Financial terms of the deal were not disclosed. Novolyte operates production sites at Baton Rouge, LA; and at Suzhou, China, and the company employs 167 people. The acquisition comprises Novolyte’s energy storage activities focused on developing, producing and marketing performance electrolyte...

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