PVC Europe Group exits Benvic Compounds

PVC Europe Group is an investment subsidiary of Investindustrial.

  • PVC Europe Group has signed a binding put option for the sale of Benvic Compounds to International Chemical Investors Group
  • Benvic’s medical activities in Italy are expected to be retained by Investindustrial funds
  • The deal is set to close in the fourth quarter of 2022

PVC Europe Group, an independently managed investment subsidiary of Investindustrial Growth, has agreed the sale of the compounds business of Benvic Group to International Chemical Investors Group.

Benvic Group’s medical activities in Italy are expected to be retained by Investindustrial funds.

Benvic Compounds is headquartered in Chevigny-Saint-Sauveur, France. The company develops, produces and markets thermoplastic solutions based on PVC as well as engineering polymers and bio-polymers compounds. It employs 630 people full-time.

Benvic Compounds has grown organically and inorganically since Investindustrial’s entry, having made eight add-on acquisitions across Europe and the US. The company has rolled out several ESG related action plans to reduce its CO2 emissions and to eventually achieve carbon neutrality on direct scopes.

“Benvic has thrived under our ownership as a result of a strong industrially-driven plan, with a clear investment rationale that has been executed with care and precision by our teams and management,” said Andrea C Bonomi, chairman of the Industrial Advisory Board of Investindustrial. “During Investindustrial’s ownership, Benvic started as a niche compounder and has been built into a global player in thermoplastics through an extensive and successful buy-and-build programme across Europe and the US, which is an area Investindustrial has significant expertise in. We are confident that the company remains well positioned to continue its strong growth trajectory under its new owners.”

The buyer, Luxembourg-headquartered International Chemical Investors, is a privately owned industrial group with sales in excess of €3 billion and nearly 4,000 employees across the globe. Since 2004, when the firm was founded, ICIG has acquired over 20 independent chemicals and pharmaceuticals businesses in Europe and the US.

“As a global player in thermoplastic solutions and one of Europe’s leading PVC compounders, Benvic Group will become ICIG’s second polymers platform, next to Chlorovinyls/Vynova,” said Achim Riemann, managing director of ICIG. “Benvic is well-known for its innovation capabilities as well as its skilled and dedicated employees. We look forward to welcoming the Benvic employees to ICIG. Together we will realise tremendous opportunities to further grow the business and strengthen Benvic’s promising initiatives to also become one of the leaders in sustainable solutions for the plastics industry.”

Investindustrial is a Luxembourg-based group of independently managed investment, holding and advisory companies with over €11 billion of raised fund capital. The firm was founded in 1990 and looks to take controlling positions in predominantly Southern European medium-sized businesses.