# 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.

- Type: Partnership
- Announced: 2022-09-16
- Status: announced
- Products: high-performance engineering materials
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Advent International](https://endata.com/companies/430.md) (investor)
- [LANXESS](https://endata.com/companies/15514.md) (partner)

## Sources

- [privateequitywire.co.uk](https://www.privateequitywire.co.uk/advent-international-and-lanxess-appoint-ceo-designate-planned-engineering/), 2022-09-16: "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"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.