Italian private-equity firm Investindustrial is exploring options, including a sale, for its catalysts and polymer materials-maker Polynt, which could fetch about 900 million euros ($1 billion), according to people with knowledge of the situation.
Investindustrial, which specializes in investments in Spain and Italy, has spoken with advisers about options such as an initial public offering or outright sale, said the people who asked not to be identified because the plan is private. No final decision has been taken, they said.
Polynt supplies catalysts, chemicals, additives and resins used in the production of polymers and foods. The company is in the midst of expanding its malic-acid and maleic-anhydride capacity to compete with Huntsman Corp. for the position of the world’s largest producer of the ingredients used in beverages, electronics and water treatment.
A spokesman for Investindustrial did not immediately respond to e-mail requests seeking comment.
Polynt, a former unit of Lonza Group AG, generates about 100 million euros in earnings before interest, taxes, depreciation and amortization, with sales of about 1.2 billion euros, said one of the people. Polynt last year acquired CCP Composites from Total SA, having earmarked unsaturated polyester resins as an area of growth.