Munich / London / Paris, 24 April 2019 – Silverfleet Capital is pleased to announce that Fund II portfolio company, Prefere Resins has agreed to acquire INEOS Melamines & Paraform Business, which is currently a part of the INEOS Enterprises portfolio.
Headquartered in Erkner, near Berlin, Germany, Prefere Resins is a European market leader in the development, production and sale of phenolic and speciality amino resins which are used as binders across the construction, insulation and industrial sectors. Operating production sites in Finland, Germany, United Kingdom, France, Poland and Romania; the company also runs three R&D sites (Germany, Austria and Finland) and four regional sales offices (Germany, UK, Finland and Austria). The Company produces around 350,000 tonnes in volume per year and employs over 320 people.
Prefere’s acquisition of INEOS Melamines & Paraform covers operations sites in USA, Germany and a tolling operation in Indonesia; significantly increasing the company’s global operations. INEOS Paraform is Europe’s second largest producer of Paraformadehyde, and employs about 145 people at its Mainz facility. The business has been producing Formaldehyde and its downstream derivatives for more than 100 years and continues to innovate and develop its business. INEOS Melamines is a world leader in the supply of melamine resins into coatings, paper, textile, tire, rubber, and decorative laminates industries. The business employs around 150 people at its sites in Springfield USA and in Frankfurt, Germany.