Articles
Carl Marks & Co. News
Soluol, a Carl Marks Portfolio Company, Acquired by DSM
NEW YORK, Jan. 30 PRNewswire — Soluol, a developer, producer and marketer of high-performance urethane resins and a portfolio company of Carl Marks, the investment and advisory services firm headquartered in New York, has been acquired by Royal DSM N.V. DSM is a leading life sciences and materials sciences company based in the Netherlands.
Carl Marks, along with individuals having knowledge of the chemical industry, formed an investor group in February, 1989 to acquire the company. Since then, the company has grown to the point where it enjoyed a reputation in the marketplace as a significant and quality producer of water-based and solvent- based polyurethane resins. The sale will give the company the opportunity to expand its capabilities while giving DSM a greater presence in the United States.
Additionally, DSM will also receive the benefit from a new state-of-the- art production facility in East Providence, Rhode Island, which the company recently constructed and moved into. The acquired company will be grouped under the DSM NeoResins+ business unit, which is part of the DSM Resins business group.
"Soluol's strong position in the marketplace made it an attractive asset for acquisition and provides a clear-cut long-term advantage for DSM," said Mark Claster, president of Carl Marks. "For 19 years, Carl Marks and its investors perceived great value in Soluol. With the sale of the company to DSM, this value has been realized. It has been a wonderful partnership with management and our co-investors."
About Soluol
Soluol is a leading supplier of a broad range of both water-based and solvent-based high-performance specialty polyurethane resins. Founded in 1931, the company's key markets include the paint and coatings sector where Soluol's products are used on concrete, metal, wood and plastic substrates. Additionally, Soluol produces a range of polyurethanes which offer unique bonding properties for use in the adhesives sector and other specialty products used in the conversion of foils, and also in paper, plastics and blister packaging. Soluol also offers a range of fully formulated, ready-to- use polyurethane-based coatings designed to impart a wide variety of functional and tactile properties to fabrics.
About Carl Marks & Co.
Founded in 1925, Carl Marks began as a dealer of foreign securities in the United States. The company has diversified into a multi-faceted investment and advisory services firm offering a range of specialized services, including corporate revitalization and investment banking, distressed securities, private equity, real estate and asset management. For more information, visit http://www.carlmarks.com.
SOURCE Carl Marks & Co.
News Network Ads
Submit Your News
Have news? Submit it to our news networks.
