Perstorp has acquired GEO’s Di-Methylolpropionic Acid (DMPA) business, further emphasising its commitment as the sustainable specialty solution provider within the resins and coatings segment.
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Perstorp strengthens specialty position within resins and coatings
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This acquisition further accentuates the company’s strategic presence in Polyurethane and Alkyds dispersions – a vital step to becoming a specialty leader in various waterborne coating markets.
The acquisition bolsters Perstorp’s position within the DMPA platform, allowing further investments into innovation and additional capacities over time. Perstorp’s strategy is to support its customers and wider society by driving the shift towards renewable raw materials and sustainable technologies.
Jan Secher, President and CEO of Perstorp Group, said: “Our strategy is to be the sustainable solutions provider within our focus segments, of which resins and coatings is one. Additives for waterborne resins and coatings technologies are a key area for future growth, and we see great potential in the market for Bis-MPA together with the acquired DMPA. This acquisition will both allow further development of our offering and enable long term investments to safeguard future availability.”
Bis-MPA has represented a key building block in Perstorp’s offering over the past 20-plus years. The product enables a technology shift from solvent to waterborne formulations within markets such as Polyurethane dispersions, PUDs, and waterborne Alkyds.
As of January 2022, Perstorp resumes control of GEO’s DMPA business. GEO will continue to produce DMPA exclusively for Perstorp in Allentown, Pennsylvania. Perstorp and GEO are jointly committed to ensuring a smooth business transition process, focusing on security of supply and service.
CPS Performance Materials, the parent company of GEO, is a diverse specialty chemical company with businesses serving multiple end markets including pharmaceuticals, nutrition, specialty coatings and dispersants used in a broad range of applications.
Jeremy Steinfink, CEO of CPS Performance Materials, added: “We are excited to have found a partner in Perstorp who is committed to support the growing demand for DMPA. CPS will continue to focus on building our core businesses and this transaction enables us to streamline our portfolio as we invest in a number of capacity and product expansions throughout the company.”