Benvic Group acquires US-based specialty compounder Chemres
Benvic Group, a France-based thermoplastic solutions provider, has acquired Chemres, an American provider of polymers, custom compounds, and solutions for a range of industries such as medical, packaging, wire, and cable.
The financial terms of the deal were not disclosed.
Chemres, which is headquartered in Princeton, New Jersey, is a specialty compounder. The company is said to have a solid position in the US contact lens market.
Paul Keimig — CEO of Chemres said: “Chemres is excited to partner with Benvic in order to accelerate our growth as well as provide additional value for our customers. Benvic’s proven success in similar markets and the desire to use Chemres to grow its portfolio in the US market was key in our decision making process.
“With Benvic’s vision to be the global leader, Chemres will accelerate its growth through organic and additional compounding acquisitions in the US market. Together, Benvic Group, through Chemres, will have unparalleled, global capabilities in the compounding world.”
Benvic Group said that its combination with Chemres will enable it to foray into the US market and consolidate its exposure to the medical sector, thereby helping it to become a major global supplier in this market.
The French thermoplastic solutions provider said that it will combine its track record of providing highly innovative solutions with Chemres’ expertise in the North American marketplace and its robust customer portfolio.
Luc Mertens — CEO of Benvic Group said: “Like Benvic, Chemres is a top performer in the compounding industry; out-performing competitors in growth, quality and client satisfaction. Our shared culture for performance and innovation will enable us to develop new business and technical synergies, and provide us with an exciting strategic opportunity in the US market.
“We look forward to work closely with the management team of Chemres in the coming years to expand our operations in North America and grow our polymer expertise across sectors and in particular in the medical sector. This acquisition is an important step forward in Benvic becoming a global leader in compounding.”
Chemres is the ninth add-on acquisition for Benvic Group since it joined the portfolio of Investindustrial in 2018. In 2019, the company acquired Modenplast Medical, an Italian compounder, which specializes in medical grade vinyl compounds and tubing extrusion.
Last year, Benvic Group acquired Italian manufacturer Luc & Bel, which specializes in designing and manufacturing medical device components. This year, the company had also acquired certaub TPE and PP compounding assets from Celanese.