Pulcra Chemicals, with headquarters in Geretsried, Germany, has just announced its first acquisition in its history by acquiring fellow-industry player, Devan.
Devan is known for its antimicrobial range BI-OME®, its large sustainable track record with probiotics solutions, a wide range of recently introduced bio-based textile finishes and a long standing in thermoregulation and flame retardants. The company is headquartered in Belgium and has offices in the United Kingdom, Portugal, the United States and a team in Shanghai, China. Devan was founded in 1977 and has been owned by Pentahold, a Belgian private equity fund, since 2013.
“We are thrilled to complete this transaction with mutual trust to grow the business as a solution specialist for our customers across a broad range of textile markets. The acquisition of Devan will support our vision of being the leading international benchmark for sustainable chemistry,” said Ümit Yaldiz, Chief Executive Officer of Pulcra Chemicals.
Lincoln International acted as the mergers and acquisitions (M&A) advisor to Pulcra Chemicals on this transaction.
This transaction represents the fourth deal in the broader chemicals space for Lincoln International’s Belgium office since the beginning of 2021. The firm previously advised Ravago on the acquisition of Indukern, Blackstone on the acquisition of industrial filtration company Desotec and the sale of engineered foams producer FoamPartner to Recticel earlier this year. This transaction also adds to a long string of global chemicals deals advised by Lincoln International, including the recently announced sale of Cetelon to PPG and the sale of Schmid Rhyner to Altana.