According to informed sources, the Netherlands, the world's leading UV radiation curing raw material manufacturers IGM resins have been sold by private equity holders for 500 million euros (445.93 million pounds).
Sources said the New York-based Arsenal Capital Partners has authorized the investment bank Moelis to organize the auction, which is expected to be launched in the coming weeks.
Reporters could not contact Arsenal to comment, Moelis declined to comment.
Sources said the industry peers and private equity groups will be the target of this auction.
IGM resin competitors include Allnex owned by Advent, Arkema in France and DSM in the Netherlands It's not yet clear whether any of them bid on the company.
Founded in 1999, IGM Resins is a wholly-owned chemical company that produces photoinitiators, monomers, oligomers, and additives. In 2012, Arsenal acquired a majority stake. In 2016, IGM purchased a BASF (BASF). Photoinitiator business, for radiation curing formulations in a variety of industries.