Advent International and LANXESS plan engineering materials joint venture

Advent International and LANXESS plan to form a joint venture for high-performance engineering materials, with expected sales of around €3 billion. Calum MacLean has been appointed CEO-designate. Advent will hold at least 60%, LANXESS the remainder. The transaction is expected to close in H1 2023.

“The joint venture will benefit from the strong long-term partnership between Advent and LANXESS and is expected to have sales of around €3 billion”privateequitywire.co.uk

• 1 source
• privateequitywire.co.ukAdvent International and LANXESS appoint CEO-designate for planned engineering materials JV - Private Equity WireRehan SaleemSep 16, 2022

Summarized from public sources; check the original articles before acting on it.