United Initiators Acquire Syrgis Performance Initiators
United Initiators have announce that it has acquired Syrgis Performance Initiators from Syrgis Performance Products, owned by Edgewater Capital Partners.
Headquartered in the US Syrgis Performance Initiators manufactures bespoke formulations of benzoyl peroxides in North America Ketone Peroxides in both North America and Europe. Both products are organic peroxide initiators used in the production of thermoset composite materials. The company has a global reach with manufacturing locations in the US and Sweden in addition to trading operations in Shanghai. In 2011, SPI had total net sales of approx. $50 million.
Acquiring Syrgis Performance Initiators will allow United Initiators to expand its product range and geographic reach. The acquisition will also give United Initiators with improved access to the organic peroxides market across the Americas, Europe and Asia-Pacific. The combined turnover of United Initiators and SPI is expected to exceed €200 million.
Commenting on the acquisition, United Initiators CEO Ed Hoozemans said:
We are delighted to announce our acquisition of SPI, whose market leading organic peroxide products will complement our existing initiators business. SPI is a highly regarded supplier of peroxides to the thermoset composite market segment and we see significant opportunity to build upon its established customer relationships and operational capabilities in the Americas, Europe and Asia-Pacific