Advent International will acquire chemicals producer Viakem SA de CV for an undisclosed amount. Viakem, founded in 1938 and located in San Pedro Garza García, Mexico, manufactures chemicals for the agriculture industry. In addition, Viakem’s chemicals are used to produce products in other sectors, such as paints, plastics, fragrances, detergents and pharmaceuticals.
“We believe that the agrochemicals market, for which Viakem serves as an outsourcing partner, will enjoy healthy growth based on the macroeconomic trends of increasing population and wealth, as well as the need to increase resource efficiency,” says Advent managing director Luis Solorzano. For more on M&A in the sector, read Agriculture Acquirers Feed on Crop Protection.
Advent has backed chemical companies before. Some of its other investments include: GTM Holdings, Mondo Minerals, Oxea and H.C. Starck.
In other recent similar deals, Dow Chemical Co. (NYSE: DOW) and DuPont Co. agreed to merge in 2015; FMC Corp. (NYSE: FMC) completed its purchase of Cheminova; and Lanxess AG (ETR: LXS) will buy the Chemours Co.’s (NYSE: CC) disinfectant business. For more on trends in the chemicals industry, read Chemical Makers Keep Drawing Buyers.
Galicia Abogados is representing Advent and Santos Elizondo Cantu Rivera Gonzalez de la Mendoza SC is doing the same for Viakem.