Arsenal Capital To Acquire Evonik's Colorant Business

Law360, New York (March 6, 2012, 1:37 PM EST) -- Private equity firm Arsenal Capital Partners will buy German chemical maker Evonik Industries AG's colorant business for an undisclosed sum, the firm said Tuesday.

Evonik's colorants are used in decorative paints in the architecture business as well as industrial applications such as maintenance and timber and marine coatings. The business generated €130 million ($170.5 million) in sales in 2011, about half from the U.S., the companies said.

The colorants business has about 300 employees with factories, labs and other facilities in the U.S., Canada, Brazil, Australia,...
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