High quality methylal from non-recyclable plastic waste by an improved Catalytic Hydro-Gasification Plasma(CHGP) processChange in ownership of PVC stabiliser producer / Former Chemson manager Hofer buys into company
Change in ownership of PVC stabiliser producer / Former Chemson manager Hofer buys into companyCompany headquarters in Wolfen / Germany (Photo: IKA)Innovative Kunststoffaufbereitung (IKA Wolfen, Bitterfeld-Wolfen / Germany; www.ika-wolfen.de) has announced that the Invest AG private equity fund of the Austria-based Raiffeisen banking group has become the largest shareholder in the company following its acquisition of a nearly 47% stake. Invest AG is taking over the shares from Belgian industrial holding company Floridienne (Waterloo; www.floridienne.be), which had purchased a majority stake in IKA Wolfen in 2002. Floridienne owns shares in companies from the chemical, recycling, life science and gourmet-food sectors, and had successively increased its stake in IKA, acquiring 100% ownership in 2016. According to reports, IKA???s latest results showed sales of EUR 33m with around 70 employees.
Other investors entered the ranks of ownership on 6 October 2020, when Austrian private equity firm Invest Equity bought a 33.77% stake in the German PVC stabiliser producer, and a compatriot consortium around Alexander Hofer, a former manager at Chemson Polymer-Additive (Arnoldstein / Austria; www.chemson.com), finalised a management buy-in for the remaining 19.48%. Hofer will head the management buy-in as CEO, with Timo Seidel as CTO. According to reports, previous IKA Wolfen managers Thomas Hillen and Swetlana Fischer will remain with the company. IKA co-founder and long-standing managing director Reinhard Beck has been tapped to advise the new owners and management.
Invest AG and Invest Equity worked together in 2013 as shareholders in Lenzing Plastics (Lenzing / Austria; www.lenzing.com). Since many companies have registered an increased need for capital due to the coronavirus crisis ??? in order to more easily take out loans ??? Invest AG has currently reserved an additional EUR 250m as venture capital.16.10.2020 Plasteurope.com [246123-0]
Other investors entered the ranks of ownership on 6 October 2020, when Austrian private equity firm Invest Equity bought a 33.77% stake in the German PVC stabiliser producer, and a compatriot consortium around Alexander Hofer, a former manager at Chemson Polymer-Additive (Arnoldstein / Austria; www.chemson.com), finalised a management buy-in for the remaining 19.48%. Hofer will head the management buy-in as CEO, with Timo Seidel as CTO. According to reports, previous IKA Wolfen managers Thomas Hillen and Swetlana Fischer will remain with the company. IKA co-founder and long-standing managing director Reinhard Beck has been tapped to advise the new owners and management.
Invest AG and Invest Equity worked together in 2013 as shareholders in Lenzing Plastics (Lenzing / Austria; www.lenzing.com). Since many companies have registered an increased need for capital due to the coronavirus crisis ??? in order to more easily take out loans ??? Invest AG has currently reserved an additional EUR 250m as venture capital.16.10.2020 Plasteurope.com [246123-0]
» Publication Date: 16/10/2020
